The five Alamo Drafthouse movie theaters in North Texas, including the one in Rayzor Ranch in Denton, closed abruptly Thursday after its operating company declared bankruptcy.
Theaters in Denton, Las Colinas, Richardson, Dallas, Lake Highlands and Woodbury, Minnesota are now closed, affecting more than 600 employees, according to CBS News. The franchise partner — called Two is One, One is None — blamed the bankruptcy on high franchise fees and the first quarter of this year being “the worst performing quarter in movie-going history,” according to CBS News and WFAA.
“We are very disappointed to learn today that our franchisee, which operates five locations in Dallas-Fort Worth, TX and one in Woodbury, MN has filed for Chapter 7 bankruptcy and is closing their business effective immediately,” an Alamo Drafthouse spokesperson said. “We are heartbroken for the franchisee’s teammates and the local film communities, however, we are working as quickly as possible to get Alamo Drafthouse Cinema back up and running in these cities. All other Alamo Drafthouse locations are operating as normal, with continued expansion plans across the country.”
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