It is impossible for the referendum to be revoked. Otherwise, it'll become "neverendum". Even now when there's a petition to call for a new referendum again, it seems to be of no effect.Theoretically, the Government could do nothing and go against the will of the people but this is highly unlikely.
However, I am also of the opinion that if Britain will get their acts right, the loser may eventually be the EU instead of the UK. Switzerland need not be in the EU and yet they are still thriving well and good.