Montgomery icon closing its doors

MONTGOMERY, AL (WSFA) - An icon in the capital city is closing its doors. Weil Brothers Cotton is shutting down after 130 years in business.

OnThursday Andy Weil, one of the principals in the company, told WSFA 12 News the decision came after an extraordinarily difficult year.

Weil said the company will honor the company's outstanding commitments as it slowly phases out.

Weil says losses resulting from the cotton market's gyrations in early March were significant, and the risks of trading cotton have become much greater.

Weil says the decision was especially difficult because of the loyal employees at the company, many of them with long years of service.

He says the shut down will be complete in early 2010.