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The A.B. Closson Jr. Co., the long-time downtown retailer, was sold to Stuart B. Sutphin III on March 24 for an undisclosed price. Sutphin became president of the 127-year-old company when he bought it. Alfred Burton Closson Jr. will remain fully active as chairman and chief executive officer for at least three years.
Closson has been president of the company since 1966. He is the fourth generation family member to own the store. Sutphin, 42, previously was president and chief executive officer of an Atlanta-based import company and will...