As you know we monitor all of the queues to ensure they maintain a healthy matchmaking experience. Unfortunately we have seen the number of players in the Team Builder queue decline over time so we will be disabling the queue on Friday 9 October at 2:30 AM AEDT.
The development team are working on an improved Champion Select experience, so we may look to introduce that in the future. We'll post any updates on the boards when there is more info to share.
It’s also important to point out that this doesn't mean that another queue will take its place. All of the queues are evaluated independently and are currently in a healthy place, but they haven’t grown to the point of expansion yet.
You can see the full queue schedule in the stickied post: http://boards.oce.leagueoflegends.com/en/c/miscellaneous/ZzQR1haM-queue-schedule