The production was just a few days into its six-week tour, and is the second show starring Day to be cancelled this year following ill-fated new musical The Golden Voice.
Spelling Bee, which opened in Harlow on 3 October, was apparently pulled due to "failing to secure the funding it needed".
The musical was conceived by Rebecca Fieldman, with music and lyrics by William Finn and additional material to Sheinkin's book by Jay Reiss. The tour revival was being produced by ASH Productions Live and Harlow Playhouse in association with Patch of Blue Theatre Company.
Spelling Bee first premiered on Broadway in 2005 and won two Tony Awards, including one for Sheinkin's book. It came to London in 2011 with a production at the Donmar Warehouse.
The story centres on six quirky students who enter a spelling competition, and the three equally quirky adults who administer it.
Directed by Alex Howarth, the tour cast also included: Ryhs Owen, Ellie Mason, Thomas Mackley, Janette McManus, Arina II, Ross Cobbald, Joshua Dowen, Jamie Lee Pike and Will Bradnam.
The tour was due to visit: Kettering (16-17 October), Blackpool (21 October), High Wycombe (22 October), Jersey (24-26 October), Worthing (30 October), Liverpool (5-9 November), Crawley (14 November) and Eastbourne (15-16 November).
Ticket holders are advised to contact their point of purchase.