updated 10/29/2013 AT 11:15 AM ET
•originally published 10/29/2013 AT 8:00 AM ET
“It’s over for now,” Kevin Jonas says.
“It’s really hard to say ‘forever,’ ” says Nick. “We’re closing a chapter, for sure.”
“It was a unanimous decision,” says Joe.
It came after a meeting on Oct. 3, where Nick Jonas confessed to his brothers that he had serious concerns about the future of the band.
“I was feeling kind of trapped,” he said. “I needed to share my heart with my brothers.”
For more on the Jonas Brothers’ decision to call it quits, including Joe’s reaction to false reports he had drug problem, pick up this week’s issue of PEOPLE, on newsstands Friday