Discount supermarket chain NQR, owned by the founders of the Baker's Delight chain, has gone into voluntary administration putting 351 jobs at risk unless a buyer is found.

NQR, which has 18 stores across Victoria, appointed Luke Targett and Bruno Secatore from Cor Cordis as administrators on Wednesday.

The chain has 18 stores around Victoria.

Mr Targett said stores will continue to trade as normal while the business is put up for sale as a going concern.

“Most of the stores are profitable and making a contribution; there’s a couple that we’re going to have to have a look at, but that’s all part of assessing the business," he said.