Northern & Shell has closed its shopping magazine Happy, at the loss of around 20 jobs.
The "one-stop shopping magazine" was launched in 2005 in a bid to capitalise on the growth of consumer spending at the high end of the women's fashion market.
Its ABC figure rose over the last twelve months from 83,810 in the period ending June 2006 to 86,236 sales per monthly issue in the peroid ending December 2006.
Richard Desmond's shopping digest hit trouble four months after launch in 2005 when the monthly decided to merge its August and September editions, in what the publisher called a "logical" response to problems in the retail sector.
Yesterday's announcement blamed a downturn in advertising on the closure, according to an insider on the magazine.
The title, priced at £2.50, faced stiff competition for high-end advertisers from Emap's weekly Grazia.
Earlier this year, IPC launched its fashion focused weekly, Look with a strong emphasis on clothes and accessories shopping and a section dedicating pages to individual retailers' new stock each week.
A source said that 18 or 19 staff would be made redundant from the closure.