The last of the remaining 34 workers walked off the site at lunch time, many recalling the heydays of a business which once employed 700.
Among them was Malcolm Porter, who had been working there for 25 years since since starting as a 15-year-old.
"When I started there were between 600 and 700 working there," he said.
"It is a sad day but there is nothing that could be done – it is time to move on. We will find something else to do – there's always something."
He was reminiscing with pal Maurice Jones, who recalled that the company started by making gliders to land troops behind enemy lines in the Second World War.
"There's an awful lot of Lydney people who have worked here," said Maurice, who has only been with the company for the past four or so years.
The company branched into laminated parquet flooring – a side of the business which was subsequently sold off – before starting to make and fit interiors for buses and railway carriages in recent times.
Lydney Vehicle Systems as it them became experienced trading difficulties leading to the closure. Last August administrators were called in with accountants Baker Tilly advising the firm through a review.