07/27/2012 07:27 EDT | Updated 09/26/2012 05:12 EDT

Captain John's buoyed by hope of buyers

The fate of a longtime fixture on the Toronto waterfront remained unclear Friday, with Captain John's Harbour Boat Restaurant staying closed but with word there are potential buyers.

In late June, owner John Letnik admitted he was behind in taxes to several city agencies, including the port authority. As a result, the city had shut off the water, thereby shutting down the restaurant.

"I'm behind on the rent on and on the taxes and everything — and they decide the only way to get me out of the business is to shut the water off," Letnik said Friday.

Foot of Yonge Street

Letnik also lives on the ship, which has been moored at the foot of Yonge Street since 1975.

He has refused to budge, even threatening to chain himself to the ship rather than leave.

Friday was the deadline to pay up and get out, but Letnik's realtor now says he's received two offers to buy the old ship.

A meeting is set for Monday with the city, the port authority and the harbour commission.

"I certainly hope that they are going to reconsider and let me sell the boat, pay up my obligations, and walk off with dignity," Letnik said.

"That's all I want," he said.