Captain John’s Remains Unsold

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TORONTO — The scramble to find a buyer for the now-defunct Captain John’s floating restaurant in Toronto continues, as its bidder has missed the deadline to pay.

The Toronto Port Authority is in talks with another potential suitor after local entrepreneur James Sbrolla, of the North American Seafood Exchange, failed to pay $33,501 by Aug. 7 for the MS Jadran, a former Adriatic passenger ship that housed Captain John’s restaurant. The ship was court-ordered to be removed from the harbour by Aug. 22. “We are still working with North American Seafood Exchange as one potential buyer of the Jadran, however the missed closing deadline now means that other options are also being considered,” a rep from the Port Authority is quoted is saying in a statement to the National Post.

Sbrolla told the newspaper that certain issues have come to light, including dealing with the ship’s hydro transformer, but he intends to make the full payment once the problems are resolved.

Captain John’s was shuttered in 2012 after its owner, John Letnik, accrued $740,000 in unpaid taxes.

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