The site is managed by Merlin Entertainments, which also operates the city’s Sea Life Center and Cadbury World and theme parks including Alton Towers.
In the statement, the company said a contributing factor was the temporary closure of the site during the pandemic.
“This is the right commercial decision, allowing us to prioritize our other attractions in the Midlands.”
He added that he had explored “all other viable options”.
Around 1,000 marine animals, including sharks, rays and tropical fish, will be relocated to the nearby National Marine Life Center in Birmingham, as well as other marine life sites across the UK.
The company added that staff will be supported in the coming weeks, including advice on roles at other attractions in the Merlin group.
Guests with pre-booked tickets before December 11 should visit as normal, and those with bookings after the closing date should request a refund.
“We are proud of the positive impact The Bear Grylls Adventure has had on the thousands of children and families who have visited over the past six years, showing guests first-hand the power of an engaging escape from the ordinary and how adventure is for everyone,” said it.
“We want to thank our amazing team and guests who made this time so unforgettable.”
The BBC has contacted the NEC Group for comment.