Atlanta-area homebuilder Bowen quits business

DULUTH - Homebuilder Bowen Family Homes has shut down, citing what it calls "the market dynamics of the past few years."

The Duluth-based business was begun by Rudy Bowen in 1969. The company remained in the family as Bowen's son, David Bowen, took over as chief executive.

In May, Bowen Family Homes ranked No. 81 on Builder Magazine's 2009 Builder 100 List, down from No. 39 for 2008.

The magazine showed Bowen with 305 closings in 209 and revenue of $63 million, down from 800 closings and revenue of $219 million in 2008. A press release from the builder said the company had been on the list for 10 consecutive years.

The company announced the shutdown on Friday.