The title, which changed from a fortnightly to a monthly format last month, dropped by 21.4% to 143,849 in the most recent ABC figures in June last year, shedding around 60,000 year on year.
According to reports, staff at Real Magazine were told late yesterday afternoon that the title would be closing, but at this time, it is unclear how many people will be made redundant at the publisher.
The title, edited by Dave Claridge, underwent a relaunch last month that aimed to reposition itself as an aspirational title appealing to the 25 to 45 age bracket.
The title undercut its rivals by 60p to compete with the other magazines in the women's lifestyle sector, which has undergone a sizeable circulation fall in the last year.
In the magazine ABC figures for January-June last year, IPC's Essentials fell by 37.6% in six months to 74,189, and its Marie Claire dropped by 10.9% to 331,127 during the period.
Essential Publishing was acquired by Hubert Burda in April 2006.
The publisher was not available for comment regarding the closure of the title.