The nightclub's licence was withdrawn earlier this month by Islington council, which warned of a "culture of drugs" at the venue, after six drug-related deaths at the club in four years.
But the decision has been railed against by music-lovers including mayor Sadiq Khan, who lamented the decision, saying "thousands of people will lose out".
London’s iconic clubs are an essential part of our cultural landscape. Clubbing needs to be safe but I’m disappointed that Fabric, Islington Council and the Metropolitan Police were unable to reach agreement on how to address concerns about public safety.
As a result of this decision, thousands of people who enjoyed going to Fabric as an essential part of London’s nightlife will lose out.
Meanwhile, Alex Proud, founder of Proud Galleries and Proud Camden, wrote in City A.M. that the decision gave police "the green light... to close almost any club in the UK when it suits them".
On its crowdfunding page, the team behind the club accused the police of "abusing archaic licensing laws in order to close us down".
"This is about more than Fabric - an entire way of life is under threat".
"It’s about the Fabric that unites us all, that stitches together race, gender, age and sexual preference into a brilliant tapestry. We invest in the best music, technology, interior and visual design and our staff and safety are industry leading."
The club has also launched a petition, which has had almost 160,000 signatures.
London club shutdowns
London councils have been accused of targeting nightclubs in recent years, with several of the capital's biggest spots being shut down.
In December 2014, Westminster council was roundly criticised for its decision to shut down Madame Jojo's.
"Madame Jojo’s is a unique part Soho where new and established bands and solo artists play (many established bands played some of their first gigs here)," said councillor Paul Dimoldenberg.