As technology developed, the type of paint made at the Gloucester Paint Factory became obsolete, and in the 1980s the Factory was shut down. Over the decades a lack of maintenance, the toxic nature of the chemical compounds used to make the copper-based paint and the elements have all pulled the buildings into disrepair. In 2008 Ocean Alliance purchased the buildings to be their new headquarters with the intention of making the Paint Factory a proud symbol of the city of Gloucester's pioneering spirit and of its intimate connection with the seas.