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Founded by Andy Warhol and Gerard Malanga in 1969, Interview Magazine was called "The Crystal Ball of Pop" and featured writings from some of the top cultural critics of the day, from Truman Capote to Warhol himself.

After almost 50 years in business, Interview Magazine, founded by Andy Warhol and the British journalist John Wilcock, folded today (21 May), effective immediately for both its print and web versions.

Money troubles were a theme for the magazine, whose staff was locked out of the office over reported rent squabbles, but there was also the matter of sexual assault allegations made against its creative director Karl Templer.

Staffers announced the news on Twitter that Interview Magazine would cease its print and web publications.

While Interview's history has been tarnished in recent years as a result of these alleged misdeeds, the publication had been celebrated for its cutting edge approach, including a willingness to celebrate queer artists and LGBT allies by placing them on the cover. Sources say Templer was owed up to $280,000 in backpay, which prompted his departure. "Baron claims the magazine owes him "over $500,000 from invoices between 2015 and 2018" and owes Poiblanc "$66,000 as a stylist".

Former associate publisher Jane Katz, who says she was sacked without cause, also charges the publication owes her $230,000 in unpaid wages, while former Interview President Dan Ragone alleges he is owed $170,000. A representative of Brant Publications confirmed the closure and that the magazine, along with its two holding companies, has filed Chapter 7 bankruptcy.

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Interview was founded by Andy Warhol in 1969 and sold to Brant Publications after his death in 1987.

What do you think of the closure of Interview magazine? The magazine had since gone through several reboots, including in 2009, when billionaire Peter Brant purchased the publication.

"Interruptions were allowed and often could take conversations in different directions", she said in a 2004 interview to promote a book about the magazine's early years.

Interview has also faced a spate of lawsuits recently, starting with former employee Deborah Blasucci filing in November 2016.

Interview also always stuck to its guns.