In September, of 1992, the Standard Foundry closed its gates to its employees and began the process of divesting itself of any equipment that was worth selling off. According to the management, the local/regional market for gray iron and steel foundry work had dried up to the point that it was economically unfeasible to remain in business. The workers had a different take on the company's downfall. In their opinion management had run the company into the ground. The management cut too many corners to save a buck, which resulted in poorer quality products compounded by reduced customer service. Despite the differences in opinion, at the end of the day the business, after almost a century of operation, ceased to be successful and went the way of many like it in Main South.