There was a number of factors for the demise of the industry. The serpentine rock used for carving came from small seams within a larger mineral complex, and the search for unflawed large pieces of rock exhausted the small quarries, which raised costs. Fashions change, serpentine was no longer a novelty and its poor weathering qualities made it unsuitable for outside use. In 1893 the company was wound up due to falling demand, and the uninsured loss at sea of finished products. Machinery of value was sold off, and the buildings were abandoned, to leave walkers on the coastal footpath to view a post-industrial landscape. During the First World War, some of the buildings were requisitioned as a carpenter's workshop and children's playroom. The water wheel remained in use for chaffing until 1917, when it was removed. Between the wars the site was considered for a holiday camp, and some of the works were partially demolished in 1923 with explosives. Carleon House was leased to the manager Herbert Cohen in 1889, and his daughter bought it and lived there until 1947. The house and valley now belong to the National Trust.
