Wag's
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| Industry | Casual dining & Pancake house |
|---|---|
| Founded | 1975 |
| Defunct | 1991 |
| Fate | Closed |
| Headquarters | Deerfield, Illinois, United States |
| Parent | Walgreens (through 1988) Marriott Corp. (1988–1991) |
Wag's was a chain of casual dining (or "family") restaurants owned and operated by Walgreens in the 1970s and 1980s. They were modeled after restaurants like Denny's, Shoney's, and Big Boy in that they were mostly 24-hour establishments specializing in inexpensive fare such as hamburgers and breakfast. The chain was based on smaller restaurants that existed in some of the larger Walgreens stores.
Walgreens sold all 91 freestanding stores to Marriott Corporation in 1988, retaining only a few locations that were situated in malls.[1] Soon after this, Marriott began selling off its assets. Unable to find a buyer for most of the restaurants, the Wag's chain was completely out of business by 1991. However, the 30 Wag's restaurants in the Chicago Metropolitan area were sold to Lunan Corporation (large Arby's franchisee in Chicago) and run by Lunan Family Restaurants. Over the course of 2 years, each Wag's restaurant continued to do business as Wag's until converted to a Shoney's restaurant. Lunan Family Restaurants went out of business in 1994 and the Shoney's locations were sold to various chains or individuals. Some locations continue to this day as IHOP restaurants.[citation needed] Marriott itself ceased operations in 1993, when they split into two new entities.[2]
See also
References
- ^ "Company News; Marriott to Buy 91 Wag's Restaurants." Reuters at New York Times. June 30, 1988.
- ^ "Marriott to Split Into 2 Firms, Shift Debt Load : Strategy: The hotel management and franchise business will be separated from hotel and retirement properties". Los Angeles Times. October 6, 1992.
Marriott Corp. on Monday unveiled plans to split in two next year, separating its prosperous hotel management and franchise business from its wholly owned hotel and retirement properties.
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