The publisher has made ten staff redundant following the closure of the magazine, which was linked to Channel 4's Popworld show and was the first weekly music title to be launched against established weeklies, the NME and Kerrang!, in more than 20 years.
Brooklands distributed 130,000 copies of the first issue last week, aiming to sell around 60,000 copies before reaching a settle-down circulation of 40,000.
Darren Styles, Brooklands' chief executive, said that despite a year in planning and research, with £1m investment, and the promotion of 100,000 sample editions ahead of launch, the target audience of 16-21 year-olds had steered clear.
"To be perfectly frank the magazine has bombed in a way nobody connected with it could ever have envisaged," he said.
Describing it as "an honourable failure", he added: "We have an overpowering responsibility to protect the wider interests of our company and its portfolio."
The closure deals a blow to Brooklands' consumer publishing ambitions as the group folded four other Channel 4 tie-in magazines, including Property Ladder and You Are What You Eat, at the end of 2006 to plough resources into the launch.
Brooklands now has just one news-stand title, A Place In The Sun, and runs an accompanying exhibition. It continues to publish a range of customer magazines.
Popworld Pulp targeted 16 to 21 year olds and was edited by Hannah Verdier, who previously edited MTV's UK website.
Previous monthly attempts to target young music fans in recent years, such as Highbury's Bang and Xfm-backed X-Ray, also folded.
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