For most of its existence it was located in the MS Jadran, a former Adriatic passenger ship that was permanently docked at the foot of Yonge Street at 1 Queens Quay West on Toronto's waterfront.

The Harbourfront redevelopment turned the area into a recreational destination for residents and tourists and a residential neighbourhood; Captain John's helped begin a gentrification process that ultimately claimed it as a victim.

[3][4] Letnik found work at an Etobicoke country club and ultimately became its chef, before opening his own restaurant in 1961, the Pop Inn at Dundas and McCaul which he ran for seven years.

[7] For several years the Jadran operated as a luxury cruise ship in the Adriatic and Aegean seas[3][8] and later served as a private ocean-going presidential yacht for Yugoslav president Josip Broz Tito and his entourage.

The Federal Court initially ruled in favour of the city, as Letnik could not prove the collision caused the sinking, and because he failed to properly maintain the boat after converting it into a restaurant.

[14][15][16] In the 1970s and 1980s, the floating restaurant attracted prominent diners such as Bob Hope,[10] Brian Mulroney, Mel Lastman, Robert Campeau, The Village People and Steve Stavro, and was a sought-after location for weddings, bar mitzvahs and other events.

[10][17] However, in its latter years it lost favour as the city's gastronomical scene became more sophisticated and diverse[11] and by 2002 Letnik was seeking bankruptcy protection[10] Later reviews from local papers rated its culinary fare as average,[18] despite the restaurant's boasts of having "the best seafood in town!

[2] In 2002 Captain John's filed for bankruptcy protection following a 10-year legal battle with his[clarification needed] former common-law wife who the court ruled was entitled to a half-share of the restaurant.

At the same time the city shut off the boat's water supply, leading the health department to order the restaurant closed due to the staff's inability to sanitize dishes and wash their hands.

[32] On May 11, 2015, the Federal Court approved plans to have the Marine Recycling Corporation take ownership of the vessel and tow it to its facility at Port Colborne, Ontario by the end of the month to be scrapped.

As a result, the sale only consisted of the Port Authority, Waterfront Toronto and the condominium developer paying Marine Recycling Corporation to tow and scrap the ship for an undisclosed fee;[33][34][35] however, the estimated cost of the operation is $400,000.

[1][17] The ship was towed across Lake Ontario and through the Welland Canal to Port Colborne, where Marine Recycling Corporation has its scrapyard, in a journey that began at 10:30 am and concluded at 2:15 the following morning.

[38] Prior to the ship's departure, Letnick was thanked by Harbourmaster Angus Armstrong and Councillor Norm Kelly for his contribution to the city in creating the waterfront's first attraction at a time when it was an industrial area neglected by tourists and residents alike.

[40] In 2018, a monument commemorating Captain John's was unveiled at the foot of Yonge Street made up of the MS Jadran's ship's bell and 3 metre high, 2495 kilogram anchor.