Publishers Weekly confirms reports circulating yesterday that Virgin Comics has shut down.

The company’s New York City office has closed, and its eight-person staff laid off. According to the trade paper, the closing only affect’s the company’s U.S. publishing operations.

An official announcement is expected soon.

Founded in 2006, Virgin Comics was a high-profile joint venture between billionaire Richard Branson’s Virgin Group, author Deepak Chopra, filmmaker Shekhar Kapur and the India-based comics publisher Gotham Entertainment.

Virgin Comics focused on three publishing lines: Shatki, which reimagined traditional Indian mythology and history; Director’s Cut, which showcased concepts by filmmakers such as John Woo and Guy Ritchie; and Voices, which showcased concepts by actors and musicians like Hugh Jackman, Dave Stewart and Nicolas Cage.

Comics creators involved in some of the titles included Mike Carey, Garth Ennis, Jeff Parker and Alex Ross.

Despite the big names attached to some of the titles, and the deep pockets of the company’s founders, Virgin Comics never caught on in the direct market.

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