TRAVERSE CITY -- 7&4 News is now releasing the names of the two men killed in a shooting Thursday afternoon.  Police requested we withhold that information until all family members were notified and we honored that request.

Traverse City Police say the victim was Michael Lawton Teter, a 49-year old Traverse City man.   The supsect is William A. Welch, a 44-year old Traverse City man.

The investigation reveals that Teter and the general manager of his business went to 413 South Union in Traverse City and had lunch with Brenda Welch, the wife of William Welch.  Both Teter and Welch were in the process of a divorce from their current spouses.

Read an updated story here.

Teter and William Welch knew each other for several years since Brenda Welch at one time worked for Teter. 

After lunch Teter and his general manager walked from 413 South Union towards Teter's parked car.  While there they confronted William Welch who was armed with a handgun.  William Welch made a statement to Teter involving infidelity.  William Welch then fired two shots hitting Teter twice.

Welch then turned the gun on himself shooting once.  Both men died at the scene. 

The general manager witnessed the shooting and immediately contacted police.  The handgun used was bought by William Welch in June 2010 and was a Ruger 38 caliber.

ORIGINAL REPORT - Two are dead after a murder-suicide in the Old Town section of Traverse City.

It happened around 1:45 PM in the parking lot between Union street and the Old Town Parking Deck.   The stores nearby include AT & T, The Blue Tractor and Maxbauers.

According to eye witnesses a 49-year-old man from Traverse City was leaving a business in the 400 block of South Union Street with a male friend.  The two had just finished having lunch with a woman.  As the two men reached their car they were approached by a 44-year-old Traverse City man who was armed with a handgun.

The suspect shot the victim in the chest area.  A second shot hit the victim in the head. The suspect then turned the gun on himself.

The gun was recovered by police at the scene.

All nearby schools were in lockdown but that was lifted around 3:00 PM.  Area businesses were also locked down while police were investigating and taking statements from witnesses.

The names of those involved are not being released until family is notified.