Organisers The Shropshire and West Midlands Agricultural Society has announced the event, scheduled for November 7 at the site on Gravel Hill Lane, Shrewsbury, has been cancelled.
Ian Bebbington, chief executive of the society, said: “Although this decision may not come as a surprise, we felt it important to let people know as soon as the official decision had been made to cancel the event.
"The income for the showground, and the society, has plummeted over the last year as we faced two severe floods and then the impact of Covid-19 and this comes as another devastating blow for our charity.
“The annual Charity Bonfire and Firework Spectacular attracts more than 3,000 people each year, with all monies raised going to support our charity and others in the rural community.
"The knock-on effect of our loss in income has affected people right across our community and we are determined to bring back our events and our support for them as soon as we can.
“We are optimistic for the future and we, like so many other businesses, are trying the best we can to mitigate our losses through these difficult times.
"We aim to be back in 2021 with some fantastic events that we hope will be supported by the Shropshire community."