this is the offical reason for the teams demise
The former Dallas Freeze folded after the 1994-95 season due to competition
against the Dallas Stars and poor attendance, as the Freeze was claimed to
have lost about $500,000 a season its last two years. However, Dallas had a
team in the original CHL as well. Dallas' team won the championship 4 times,
during the 1968-69, 1971-72, 1973-74, and 1978-79 seasons.