Several North Texas locations of Alamo Drafthouse, including the one in the Richardson Heights Shopping Center, are now closed, according to a statement released by the Austin-based movie theater chain.
The closures of the locations come amid a filing for Chapter 7 bankruptcy protections by Two is One, One is None, LLC, which is the franchisee for the closed locations in North Texas.
The statement issued by Alamo Drafthouse said the company is working to reopen the shuttered theaters.
The gist
In addition to the Richardson location, other Alamo Drafthouse North Texas closures affected two theaters in Dallas, one in Irving and another in Denton. The closures of the Dallas-Fort Worth locations and one owned by the franchisee in Woodbury, Minnesota, have resulted in the loss of several hundred jobs, according to a news release from the public relations firm for the now-closed locations.
“All other Alamo Drafthouse locations are operating as normal, with continued expansion plans across the country,” the statement released by Alamo Drafthouse said.
Why it matters
In January, the city of Richardson announced it would partner with Alamo Drafthouse and provide $400,000 for renovations, including new recliner seating in every auditorium as well as new carpet and wallpaper.
At the time, City Manager Don Magner said funding would help revitalize Richardson Heights, the city’s first shopping center. The deal came with an agreement that Alamo Drafthouse would remain in Richardson Heights for at least 10 years.
Digging deeper
At the time the closure was announced, the city had only provided $200,000 of the awarded economic incentive, according to a city news release, and no further assistance will be provided until more is known about reopening efforts.
Per the news release, city officials do not know what might be recovered from the bankruptcy proceedings, but there were provisions in the economic incentive agreement that could allow the city to recover some of the already-awarded $200,000.
“The city is already actively engaged with the shopping center owners and other interested parties to ensure the sustainable, long-term vitality of this important area,” Magner said in a news release. “We will continue to be proactive and strategic in our ongoing efforts to support and encourage catalyst projects and revitalization efforts throughout [the area]."
