05/28/2015 09:10 EDT | Updated 05/28/2016 05:59 EDT

Captain John's towed to Port Colborne to be recycled

Toronto said goodbye this morning to a downtown floating institution.

The rusting vessel M/V Jadran, former home to the now-defunct Captain John's restaurant, was moved on Thursday morning to Port Colborne, Ont., to be recycled. 

The ship, once known as a destination for dinner and dancing and its eccentric captain, had been moored in Lake Ontario at the foot of Yonge Street since 1975, after its ex-owner John Letnik steamed the ship from the former Yugoslavia. 

The ship was recently sold to the Marine Recycling Corporation after Letnik fell behind on more than $1 million owed in back taxes, and following years of court wrangling.

Two tug boats escorted the Jadran through the Eastern Gap — a 200-metre-wide corridor between Ward's Island and the Port Lands — before reaching Port Colborne via the Welland Canal.

The Jadran was supposed to be moved on Tuesday, but high winds stifled the effort. Ports Toronto said that winds had to be below 15 knots for safety reasons.