The New Day - the UK's first new stand-alone national newspaper in three decades - will be axed just over two months after its launch, according to sources.
It is believed the printing presses will grind to a halt on the tabloid after its final edition hits news stands on Friday, and an insider said staff are shattered by the news.
The boss of publisher Trinity Mirror had previously said the newspaper could turn a profit as soon as the end of the year after the paper's launch was announced on February 22.
Contacted about reports of the closure on Wednesday night, a spokesman for Trinity Mirror said: "No comment."
Trinity Mirror's AGM takes place today at the Museum of London.
The introduction of The New Day came despite a sharp decline in newspaper sales as readers switch to websites.
It was launched after the Independent and Independent On Sunday newspapers closed this year after three decades to go digital-only.
Trinity chief executive Simon Fox said in February: "Over a million people have stopped buying a newspaper in the past two years but we believe a large number of them can be tempted back with the right product.
"Revitalising print is a core part of our strategy in parallel with digital transformation and there doesn't have to be a choice between the two - newspapers can live in the digital age if they have been designed to offer something different."
The New Day is edited by Alison Phillips, the Mirror's weekend editor.
At the time of its launch, the group said the title would cover news and features in "an upbeat, optimistic approach and will be politically neutral".
Trinity, which also owns the Daily Mirror and a host of regional titles, said The New Day would initially be available free of charge from 40,000 retailers, before trialling at 25p for two weeks and then selling for 50p after that.
The New Day's first front-page splash covered the plight of the UK's 40,000 infant carers.
The first edition also included a pro-EU article by Prime Minister David Cameron, a feature on school bullying and a football column by former Liverpool and England striker Robbie Fowler.