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    Home»News»Alamo Drafthouse Closes 6 Theaters Due to Franchisee Bankruptcy
    Alamo Drafthouse logo
    Alamo Drafthouse logo
    News

    Alamo Drafthouse Closes 6 Theaters Due to Franchisee Bankruptcy

    Ada BloodBy Ada BloodJune 7, 20242 Mins Read
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    Popular cinema chain Alamo Drafthouse has had to close six of its theaters. Five of these locations are in the company’s home state of Texas, with the sixth shuttered venue in Minnesota. These closures are due to bankruptcy by the franchised location’s owners, not the company itself declaring bankruptcy.Ā 

    Alamo Drafthouse logo
    Alamo Drafthouse logo

    Locations Affected

    The five closed Texas locations are Richardson, Las Colinas, Lake Highlands, Dallas, and Denton. The Minnesota venue is located in Woodbury. These six theaters are operated by Two is One, One is None, LLC, which is filing for Chapter 7. 

    Unfortunately, these closures happened so quickly that many staff members received little to no notice. A message to staff has gone viral on social media and cites the loss of ā€œover $1 millionā€ in 2023 as the reason for this decision.

    Honestly so cool that Alamo Drafthouse laid off 5 theaters (mine included) through a message on HotSchedules that deletes itself after you read it pic.twitter.com/tcqVBgSYvF

    — costco hotdog ??? (@taylinds_) June 6, 2024

    Summer Box Office Outlook

    On top of that, this summer’s box office numbers are already shaping up to be particularly drab. Major projects like ā€œThe Fall Guyā€ and ā€œFuriosaā€ are already struggling to bring in audiences. This is partially Hollywood still reeling from the effects of COVID-19 production shutdowns. Coupled with aftershocks from the 2023 WGA and SAG strikes.

    Two is One, One is None, LLC claims it ā€œinfused more than $3.5 million dollars in new capital, into payroll and operations in 2023ā€ and tried to cut costs. ā€œIndustry-wide economic performance was severely down in the fourth quarter of 2023 and in the first quarter of 2024,ā€ reads the press release about the bankruptcy. ā€œIn fact, the first quarter of 2024 has been the worst performing quarter in movie-going history.ā€

    A spokesperson for Alamo Drafthouse said that the company is ā€œheartbroken for the franchisee’s teammates and the local film communities,ā€ in a statement. ā€œWe 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.ā€

    In total, Alamo Drafthouse now has 35 locations nationwide, 15 of those are franchised, leaving 20 that are corporate-owned. While Alamo Drafthouse’s corporate ownership filed for bankruptcy in March 2021, it emerged from it by June of the same year.

    We’ll keep you posted on updates about this situation as they develop. 

    Do You Want to Know More?

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    Ada Blood

    Hi, I’m Ada. I like long walks in the graveyard, horror movies, comic books, and bringing you the latest in nerd-centric news.

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