His son apparently did not want to continue with the business, and the shop stood closed, but not empty for some while before it was cleared, sold, and has now been redeveloped.
I purchased a number of this type of clasp when the shop contents were disposed of, amongst are some interesting variations. I have one in a gilded finish, and another in pewter, apart from the chrome plated examples.
The current version is what I refer to as a "Hobson" clasp, only because most examples I have in my collection (a variety of Corps, and Regiments) have Hobson cast into the rear of the male part of the clasp.
With thanks to Graham Lewcock
A friend of mine was in 21 SAS about twenty years ago and had a similar stable belt buckle as the one you have pictured above (with the difference that it had the SAS badge). The SAS stable belt that I am familiar with is similar to the lower one, with the SAS badge instead of the Para Regt badge, naturally. I suspect that the "newer" design was one that they tried out and rejected.
With thanks to Eugene Pomeroy (March 2010)