In 2010, Fabric briefly went into administration after its sister club Matter, with whom it had a cross-guaranteed loan, announced it would close for the summer due to financial difficulties suffered as a consequence of continued delays with TfL upgrade of the Jubilee Line. Fabric was put on the market on 1 June 2010. On 24 June it was announced Fabric was no longer in administration and had been bought by Fabric Life Limited, "a consortium who fully back founders Keith Reilly and Cameron Leslie's vision."