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The iconic Captain John’s, once a grand floating restaurant that eventually became a rusting “eyesore”, is to be towed away after spending the last four decades moored at the foot of Yonge Street

Captain John's Harbour Boat Restaurant, a 90-metre cruise ship originally known as the MS Jadran, has been moored at the Yonge Street site since 1975, when owner John Letnik brought it over from the former Yugoslavia.Matthew Sherwood/The Globe and Mail

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Letnik, a pioneer in developing Toronto’s waterfront, invested $3-million in turning the five-level vessel into a restaurant and entertainment space that played host to everything from weddings, to bar mitzvahs, to christenings.Deborah Baic/The Globe and Mail

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A poster board of "Captain" John Letnik is seen outside of Captain John's Harbour Boat Restaurant, offering dinner seven days a week and Sunday brunch serviceMatthew Sherwood/The Globe and Mail

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The menu of Captain John's Harbour Boat RestaurantMatthew Sherwood/The Globe and Mail

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Actor and comedian Bob Hope, former prime minister Brian Mulroney and ex-mayor Mel Lastman all dined on the boat.Matthew Sherwood/The Globe and Mail

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By 2002, the popularity of the restaurant had sunk so deeply, Mr. Letnik sought bankruptcy protection. He tried and failed to sell his business in 2009 and by June, 2012, the city turned off the water service in an attempt to get him to leave, citing unpaid realty taxes, fees and penaltiesDeborah Baic/The Globe and Mail

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An anchor with the opening date of Captain John's Harbour Boat RestaurantMatthew Sherwood/The Globe and Mail

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Marine Recycling Corporation, a ship scrapping company, bought the former luxury liner earlier this monthJENNIFER ROBERTS/The Globe and Mail

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In 1981, the floating restaurant had been closed temporarily after the ship was hit by a Toronto ferry.John McNeill/The Globe and Mail

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After years on the Toronto waterfront, Captain John's Seafood Restaurant was finally unberthed and towed away from it's slip at the foot of Yonge St. on May 28 2015. The ship, photographed being towed across Toronto's Inner Harbour, will be taken to Welland, Ont. where it will be dismantledFred Lum/The Globe and Mail

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