The motel-based soap opera was due to run until early 2004, but instead its new one-year contract has been cut in half and it will air its final episode in the summer.
Prior to its demise, the programme is being moved away from its peak tea-time 5pm position to an afternoon graveyard slot from April.
The show was revamped and brought back after a 13-year absence, having last aired on UK screens on March 6 1988 when it ended a 23-year run. The show was created by Lew Grade's ATV and was originally scheduled to run for only 13 weeks.
Since it returned, 'Crossroads' has consistently failed to attract viewers despite steamier plots and bigger-name actors, including Jane Asher as "superbitch" Angel.
Ratings, however, slumped to 1.4m earlier this year prompting speculation that it was to be axed from its 5pm slot and moved to a lunchtime or late-night slot.
Carlton had been shopping around for a sponsor for the newly revamped 'Crossroads' after Unilever soap powder brand Surf opted not to renew its sponsorship.
The show's first comeback attracted 5m viewers, but this quickly dwindled to around the 2m mark and, despite the relaunch, has never managed to rise above that level.
Viewers were disappointed that the new series failed to feature Benny, the woolly hatted handyman from the original series.
A new set, steamy storylines and a glamorous young cast failed to win back the loyal following the series once enjoyed.
The show was originally brought back by ITV to help revive its daytime viewing figures, which have suffered since it lost Australian soap 'Home and Away' to Channel 5, now Five.
'Crossroads' was famous for wobbly sets, poor writing and low production values. Famously, characters would regularly disappear and none of the cast seemed to notice. One famous incident had the coffee bar manager go out for sugar, never to be seen again. Time for some more sugar.
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