Not surprising. I saw it in August and enjoyed it. The score wasn't as good as The Producers and the whole show came off as overblown spectacle, but I still found it mildly entertaining. The whole $450 ticket thing created a lot of bad press for the show early on and probably drove many potential theatergoers away.
Brooks and Co. were clearly trying to keep the show afloat with their courting of Jack Black and Cloris Leachman. When that didn't pan out, I guess they decided to just throw in the towel.
Well now the Hilton is free for Spider-Man. A formal announcement is likely forthcoming.
"You drank a charm to kill John Proctor's wife! You drank a charm to kill Goody Proctor!" - Betty Parris to Abigail Williams in Arthur Miller's The Crucible