Jason Binn, the boyish schmoozer behind Niche Media's well-known Gotham and Hamptons magazines, suffered one of his first losses this week: Atlanta Peach is shutting down, reports Folio. Technically, the Georgia luxe magazine was started in 2006 not by Binn but by Jerry Powers, Binn's Ocean Drive Media partner, who together with Binn forged a deal in fall 2007 with Greenspun Media Group, which also backs a few Las Vegas casinos, to become one giant publisher of glossy pages for the rich. But with the closing of Atlanta Peach, it's a sign things are absolutely not well in the world of luxury; when Marc Jacobs totes are reduced to $629 from $1,250, you know things are bad. And while Binn isn't commenting for the record, others are happy to speculate the fuzzy Peach won't be the last title in his stable to fold. Binn's most recent acquisition (Philadelphia Style) and his most recent self-launch (Chicago's Michigan Avenue) are both fingered by a competitor as the next to be "re-structured."