Reports suggest the title’s circulation will close with a circulation of 40,000.
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The company said it was “disappointing” but circulation for the title was “below our expectations”.
“As a result, we have chose to close the title on 6 May 2016”.
The Independent closed its main newspaper in February after 30 years and went online only.
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.
The New Day was launched in late February at a promotional price of 25p, before rising to 50p, in a bid to compete with the i, an offshoot of the Independent, as well as the mid-market publications.
Trinity also updated the market on its financial performance in the four months to May.
Trinity’s publishing print ad revenue has fallen by -19% so far this year – down -16% in April alone – with overall group revenue down -8.6%.
The group saw more success across its digital platforms, revealing that it continues to see strong growth in its digital audience with an increase of 22 per cent on a like for like basis.
Trinity Mirror’s AGM takes place at the Museum of London today.
Editor Alison Phillips posted a statement to the paper’s Facebook page that paid tribute to its staff and said the paper has “tried everything”.
“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”, Fox said.
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“We’re living in a rapidly changing world…but from that we’ve discovered that what people want from a newspaper is a sense of completeness – that this is all they need to know”.
