If there be any change in the owner or owners or proprietor or proprietors of any such mercantile or industrial establishment, any person retiring from such ownership or proprietorship shall file in the office of the clerk of court of the county in which the principal place of business of such mercantile or industrial establishment is located a notice of such change and shall have the sign or signs herein provided for changed. Until both such notice shall be filed and such change made on such signs, such person shall be liable for all debts and contracts of such mercantile or industrial establishment according to the interest he formerly had therein.