The factory is located on the site of the former Parnall aircraft factory, where more than 50 people were killed during two air raids in 1941, and manufacturing on the site goes back around 107 years.
Claire Young, Liberal Democrat MP for Thornbury and Yate, said it is a “very sad day to see this factory close”.
“This site has had a very long history as a manufacturing site in Yate, during the war it was producing aeroplanes and was the subject of some bombings,” she explained.
Ms Young added the closure would also impact the suppliers who will work on the site.
The company began consulting on the closure of the plant after a noticeable loss in profits.
Teresa Arbuckle, the Beko’s regional managing director, had previously told the BBC that demand for the appliances produced there has “rapidly decreased as consumers purchase more advanced and energy efficient models.”
