Spoof X Factor musical I Can't Sing! is to close on May 10, just six weeks and three days after opening.
The show, written by comic Harry Hill, finally opened on March 26 in London's West End after p review performances at the London Palladium were postponed twice in a week with producers citing technical problems.
Rebecca Quigley, chief executive of Stage Entertainment UK, said: "We are sad to be bringing I Can't Sing! to a close but are immensely proud to have co-produced the show.
"The West End can be an unpredictable place as the closure of a number of high profile productions recently has shown. I Can't Sing! has had audiences on their feet night after night, four and five-star reviews from the critics and an amazing company and creative team, but it seems that isn't always enough.
"To open any big musical, and particularly a brand new British musical comedy at the London Palladium, is no mean feat and hundreds of dedicated people have played a part in bringing this unique and wonderful show to the stage. I thank every one of those people and the audiences who have come to see the production."
People who have already bought tickets for the show that had been due to be held after May 10 were urged to "contact their original point of purchase".
The musical tells the story of a young woman who lives in a caravan with a talking dog and finds fame on the TV talent show.
Former EastEnders actor Nigel Harman led the cast, which included characters based on show X Factor regulars such as Cowell, Cheryl Cole and Louis Walsh.
In an interview in March to promote I Can't Sing!, Simon joked that it would have to last longer than the Spice Girls stage show to be considered a success after Viva Forever! ran for seven months and was deemed a flop.
Asked what would count as a success, he joked: ''Seven months and a day," before adding: ''I'm not au fait with the numbers.
''From day one there was a cloud over that musical. The critics had a field day.
''You've got to be confident in what you do, otherwise you'd be paralysed. I've always thought if I like something then other people will like it.''
Simon told the magazine: ''It's b****y risky, but so is making the TV show.
''Every new season you go in with the highest hopes, and sometimes you get a bum year. You wait for those numbers to come in, oh my God it's stressful, and it's a delicious thrill.''
After the short-lived stage show's sudden closure was confirmed, Nigel Hall, of Syco Entertainment, said: "From the moment Harry Hill and (composer) Steve Brown told us their idea for I Can't Sing! we knew this was going to be a fun project.
"Alongside Stage Entertainment we'd like to thank the cast and crew who have worked so hard on this show.
"To everyone at Really Useful Theatres and the ever-supportive staff at the London Palladium, and everyone involved in I Can't Sing!, I'd like to say a huge thanks and the very best of luck with their next venture."