News   Jun 14, 2024
Dual High-Rises and Production Studio Space Proposed in the Port Lands
 1.7K     1 
News   Jun 14, 2024
Exchange District Condos' Four Towers Progressing by Square One
 1.3K     1 
News   Jun 14, 2024
News Roundup for June 14, 2024
 726     0 

Captain John's Restaurant (1975-2012)

Captain John's could be destined for scrap heap
U.S. investors reconsider bid for waterfront landmark with court set to decide ship's

Toronto waterfront landmark Captain John’s Restaurant may be destined for the scrap heap.
At least two “breakers†— companies that tow away and recycle old ships into reusable metal — are expected to seek court approval Thursday to rid Toronto of the aging eyesore.
The winner’s biggest advantage may simply be timing: Which company can make the towering ship disappear from the foot of Yonge St. by the Aug. 22 deadline favoured by the Toronto Port Authority.

Waterfront officials here have made it clear that the Jadran is not part of its 30-year plan for revitalizing Toronto’s waterfront: Luxury condos in the Residences of Pier 27 complex adjacent to the ship are slated to start occupying soon and Waterfront Toronto has plans for a public park and promenade where the gangplank to the ship rests.
More.........http://www.thestar.com/business/2014/07/31/captain_johns_could_be_destined_for_scrap_heap.html
 
Captain John's sold for $33,501
Buyer says he's open to working with anyone who wants to restore it to its former glory.

A Toronto businessman has bought Captain John’s restaurant for $33,501 on condition he have the ship moved out of its prime slip at the foot of Yonge St. by Aug. 22.

Entrepreneur James Sbrolla says he has no firm plans for the derelict ship yet, and says he’s open to partnering with anyone willing to try to restore it to its former glory as a floating restaurant.

There were two bids for the ship before federal court Thursday, one asking the Toronto Port Authority, in essence, for $303,756 to cover the cost of towing it away to a ship recycling centre. A third bid became a source of much hand-wringing because it was filed four minutes after the 9 a.m. Thursday deadline for bids.

In the end, Madame Justice Glennys McVeigh ordered that the bid be opened despite a last-minute scrawl on the back of the envelope that said the offer was conditional on the ship staying in the Toronto Harbour. That bid, for $150,000, was rejected by the court because it violated a key condition of an earlier court order that the ship be removed by Aug. 22.

From Star.

I assume this is the same guy - note his former company was called Optimistic Enterprises!

James Sbrolla, Chairman EBC
contact

Prior to forming EBC, James was owner/operator of Optimistic Enterprises, a "boutique" management consulting firm, serving clients in the environmental and financial services sectors.
 
Last edited:
DSC said:
Captain John's sold for $33,501
Buyer says he's open to working with anyone who wants to restore it to its former glory.

A Toronto businessman has bought Captain John’s restaurant for $33,501 on condition he have the ship moved out of its prime slip at the foot of Yonge St. by Aug. 22.

Entrepreneur James Sbrolla says he has no firm plans for the derelict ship yet, and says he’s open to partnering with anyone willing to try to restore it to its former glory as a floating restaurant.

There were two bids for the ship before federal court Thursday, one asking the Toronto Port Authority, in essence, for $303,756 to cover the cost of towing it away to a ship recycling centre. A third bid became a source of much hand-wringing because it was filed four minutes after the 9 a.m. Thursday deadline for bids.

In the end, Madame Justice Glennys McVeigh ordered that the bid be opened despite a last-minute scrawl on the back of the envelope that said the offer was conditional on the ship staying in the Toronto Harbour. That bid, for $150,000, was rejected by the court because it violated a key condition of an earlier court order that the ship be removed by Aug. 22.

From Star.

I assume this is the same guy - note his former company was called Optimistic Enterprises!

James Sbrolla, Chairman EBC
contact

Prior to forming EBC, James was owner/operator of Optimistic Enterprises, a "boutique" management consulting firm, serving clients in the environmental and financial services sectors.
Click to expand...

His company may be named optimistic, but I'm skeptical.

What happens when/if he doesn't have it out of that spot by the 22nd? Do we fall back to the second bid? Or start all over again?
 
Towing the ship would be more expensive than the sale price of the ship.




That reminds me of the joke "towing charges" invoice created by Grumman Aerospace for "services rendered" during Apollo 13:
2011-06-06-space-bills.jpg
 
What kind of 'business man' buys a ship without knowing the condition of it or how he's going to move it?

This is borderline insane. I do more research when I buy a used motorcycle!

New Owner: "Oh gee, the ship's in worse shape then I thought, and I've been lookin' on the internet fer ways to mover 'er."

Are you freaking kidding me?!?!

If I were The City I'd charge the new owner a $10,000 a day penalty for every day past Aug 22 that the ship is still there. I think that would motivate him to move it.
 
Last edited:
hawc said:
What kind of 'business man' buys a ship without knowing the condition of it or how he's going to move it?

This is borderline insane. I do more research when I buy a used motorcycle!

New Owner: "Oh gee, the ship's in worse shape then I thought, and I've been lookin' on the internet fer ways to mover 'er."

Are you freaking kidding me?!?!

If I were The City I'd charge the new owner a $10,000 a day penalty for every day past Aug 22 that the ship is still there. I think that would motivate him to move it.
Click to expand...

Although I agree. This guy has more money than brains to gamble on bidding on this ship. But if hydro can't show up until the 23rd to remove that transformer, could anyone have moved it by the 22nd? Seems the port authority may have been unrealistic on their deadline.

Curious to know if he didn't pay up by last night.
 
I'm so sick of hearing from Captain John and his sob stories. In the Star's recent video he actually says he thought that the City should have paid for the ship to be fixed up and moved to another location so that he can "retire with dignity" (and presumably a huge payday after selling the refurbished ship). Seriously? What has Captain John ever given this city (other than food poisoning and a huge mess at the foot of Yonge street) to expect us to just hand him bags of money for his retirement?
 
You must log in or register to post here.

Back
Top