This week's edition of Montreal Mirror will be its last after nearly 27 years of production.
Seven people have subsequently been laid off and two have been transferred within the company.
Julien Feldman, co-founder of the Mirror, said "we knew that the Mirror was in trouble just by the number and quality of ads that were in the paper, but we're still surprised that Quebecor never tried to relaunch the Mirror as a digital platform."
The company says the paper is no longer economically viable due to the "rise of digital media and communications."
"It's very ironic that today they are blaming the demise on the advent of digital media, but really that was something they chose to ignore for the last 15 years," said Feldman.
On its website, editors of the alternative weekly thanked readers for their support.
The Mirror is the second weekly paper to fold in Montreal in the last two months, following the Hour, which opted for a digital-only publication.