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Captain John’s, formerly an iconic restaurant on Toronto’s waterfront, has officially been shut down.
Owner John Letnik’s beloved ship, which has been a waterfront landmark since the 1970s, owes more than three years ($568,000) in back taxes, utilities and outstanding lease payments.
The city does not have the power to seize the property and sell it because it is not a house or business, therefore it is up to the marine courts to decide.
Letnik, 73, has been trying to sell the ship for $1.2 million for quite some time now to no avail.
In this case, Letnik might be able to walk away, because it would cost the city a ton of money and a lengthy battle under the Canada Marine Act to move the ship, which according to experts, is worth almost nothing.
To tow or scrap the ship, it would cost the city $250,000, because old ships can contain health hazards such as asbestos and lead paint.
As a result, the ol’ Captain John’s Restaurant will remain a fixture on Toronto’s waterfront for many more years to come before the city can move forward.
