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No doubt, these are some tough times for exhibitors! 
Six Alamo Drafthouse franchised locations are closing abruptly after their owner filed for bankruptcy.
The venues include five Texas locations in the Dallas-Fort Worth area, as well as a Minnesota venue in Woodbury. The theaters are operated by Two is One, One is None, LLC, which is filing for Chapter 7. The closure is effective immediately and staff has been informed that their employment has been terminated. In a message from the franchisee to employees that was circulating on social media, the owners said they lost “over $1 million” in 2023. The Texas theaters are located in Richardson, Las Colinas, Lake Highlands, Dallas, and Denton.
The closures come as the summer box office is suffering a steep decline, with major films such as “The Fall Guy” and “Furiosa” failing to connect with audiences. Hollywood has also struggled to release as many films theatrically, after enduring production shutdowns during COVID and the 2023 actors and writers strikes.
In a press release announcing the bankruptcy, Two is One, One is None, LLC said it had “infused more than $3.5 million dollars in new capital, into payroll and operations in 2023” and tried to cut costs.
The company said the pandemic and the strikes had hurt its business. “Industry-wide economic performance was severely down in the fourth quarter of 2023 and in the first quarter of 2024. In fact, the first quarter of 2024 has been the worst performing quarter in movie-going history.”
A spokesperson for Alamo Drafthouse said in a statement that the company is “heartbroken for the franchisee’s teammates and the local film communities.” The statement went on to say: “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.”
Following the closures, there are 35 Alamo locations nationwide — 15 of those are franchise locations, and 20 are corporate owned theaters. Alamo has attracted a passionate following with its extensive menu of cocktails, craft beer and food, as well as its strict “no talking, no texting” policy. During the pandemic, Alamo Drafthouse’s corporate ownership filed for bankruptcy in March 2021. It emerged from bankruptcy in June 2021.
The venues include five Texas locations in the Dallas-Fort Worth area, as well as a Minnesota venue in Woodbury. The theaters are operated by Two is One, One is None, LLC, which is filing for Chapter 7. The closure is effective immediately and staff has been informed that their employment has been terminated. In a message from the franchisee to employees that was circulating on social media, the owners said they lost “over $1 million” in 2023. The Texas theaters are located in Richardson, Las Colinas, Lake Highlands, Dallas, and Denton.
The closures come as the summer box office is suffering a steep decline, with major films such as “The Fall Guy” and “Furiosa” failing to connect with audiences. Hollywood has also struggled to release as many films theatrically, after enduring production shutdowns during COVID and the 2023 actors and writers strikes.
In a press release announcing the bankruptcy, Two is One, One is None, LLC said it had “infused more than $3.5 million dollars in new capital, into payroll and operations in 2023” and tried to cut costs.
The company said the pandemic and the strikes had hurt its business. “Industry-wide economic performance was severely down in the fourth quarter of 2023 and in the first quarter of 2024. In fact, the first quarter of 2024 has been the worst performing quarter in movie-going history.”
A spokesperson for Alamo Drafthouse said in a statement that the company is “heartbroken for the franchisee’s teammates and the local film communities.” The statement went on to say: “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.”
Following the closures, there are 35 Alamo locations nationwide — 15 of those are franchise locations, and 20 are corporate owned theaters. Alamo has attracted a passionate following with its extensive menu of cocktails, craft beer and food, as well as its strict “no talking, no texting” policy. During the pandemic, Alamo Drafthouse’s corporate ownership filed for bankruptcy in March 2021. It emerged from bankruptcy in June 2021.
