So London, the magazine that proudly trumpeted itself as focusing on "shameless luxury", is understood to have folded after two issues.
Edited by former Mail on Sunday journalist Christena Appleyard, the magazine launched little more than a week ago with a big-name team, but its owner was inexperienced in publishing.
The magazine is preparing to put out a statement tomorrow morning. Its PR company refused to comment to MediaGuardian.co.uk immediately, but a source has said that the second issue of the magazine would also be its last.
Another source, in the media buying industry, said the £2.95 weekly magazine about London property and the high life was "very impressive" but also "very ambitious".
"Getting the advertising support every single week for a brand new title would be a difficult order," the media buyer said.
The glossy weekly was aimed at people for whom property was "their recreational drug of choice".
The magazine's managing director was Mike Ironside, former managing director of the Mail on Sunday. Its commercial director was Mike Allen, formerly of Mirror Group Newspapers and Associated Newspapers.
So London was designed by Simon Esterson, who won an award for his redesign of the New Statesman.
The magazine was owned by Steve and Jenny Rigby, and had an initial print run of 75,000 copies. Mr Rigby is son of Sir Peter Rigby, the founder of IT company SCC, reportedly Europe's largest privately-owned technology company and the 11th largest privately-owned company in Britain, with a turnover of £2.1bn.
The magazine had aimed to sell 70 pages of advertising each week and publish 50 issues a year.
When contacted by MediaGuardian.co.uk, owner Steve Rigby said he was unavailable to comment at that time.
