O'Donnell has announced she will close the $10 million musical, which is set in the 1980s London club scene, on Feb. 8 after 100 performances.
As the failed musical's only financial backer, O'Donnell is expected to lose her entire investment.
The entertainer said in a statement yesterday:
"'Taboo' was by far the most fulfilling experience of my career. Many lessons were learned and so it goes. For this experience, I am profoundly grateful and have no regrets."