It is understood its circulation has fallen below 550 and its owner JPIMedia believes the title, first published in December 1854, is no longer sustainable.
No jobs will be lost as its sole reporter Kevin Quinn and editor, Janet Bee, are based in Edinburgh where they work for other titles in the group. Ms Bee looks after 21 weekly titles.
Questions will be asked if having its staff based at the other side of Scotland has contributed to its failure. In 2017 local councillor Robert MacIntyre claimed that as few as four pages were devoted to local news each week with the rest of the 24-page paper filled with content from the company’s other Scottish titles.
JPI Media, which publishes The Scotsman and other Scottish titles including the Falkirk Herald, took over the titles last year when it acquired the assets of Johnston Press from the administrators.
As revealed by Daily Business, the Edinburgh offices of JPIMedia are to be reduced from two floors to one as staff levels are reduced and investment is focused on its digital platforms.