When the New Day was first launched in February, Trinity Mirror's chief executive Simon Fox made clear that the company would close the title if it failed to deliver results. However, Mr S is pretty sure that he didn't anticipate having to make such a decision quite so soon.
Just over two months since its launch and with circulation now below 40,000, Steerpike understands that the New Day's final issue will be on Friday. Mr S's mole says that staff at the 'politically neutral' paper have been informed today that it will close and a formal announcement is expected to follow tomorrow.
While a spokesman for Trinity Mirror declines to comment, the decision comes ahead of the paper's AGM tomorrow which will be a far from cheery occasion now the publisher's share price has dropped to a three-year low.
Update: Following Mr S's story, Trinity Mirror have released a statement confirming the paper will print its last edition on Friday:
'Although the New Day has received many supportive reviews and built a strong following on Facebook, the circulation for the title is below expectations. As a result, we have decided to close the title on 6 May 2016.'
Trinity Mirror add that the 'launch and subsequent closure' have provided them with 'new insights' into enhancing their remaining papers.