All Five North Texas Alamo Drafthouse Locations Close Due to Bankruptcy

Two is One, One is None, LLC, the franchisee of Alamo Drafthouse Cinema locations in North Texas and Woodbury, Minnesota, has filed for Chapter 7 bankruptcy and closed its theaters. The closures affect five theaters in Richardson, Las Colinas, Lake Highlands, Dallas, and Denton, Texas, as well as one in Minnesota. This decision was attributed to a significant decline in guest counts that have not recovered to pre-COVID levels and the prolonged Writers' and Actors' strikes, which have impacted the industry’s economic performance.

The company revealed that franchise fees alone accounted for nearly 10% of its sales, totaling $3.7 million in 2023. To mitigate operating losses, the owners invested over $3.5 million in new capital for payroll and operations, and attempted to reduce costs by adjusting fee structures and allowing non-profitable locations to remain open. The closure affects over 600 employees, and the company has expressed deep sadness and gratitude for its staff and loyal customers. Despite these closures, other Alamo Drafthouse locations in Texas, including Austin, Corpus Christi, Houston, Laredo, Lubbock, and San Antonio, remain operational.