Australia's oldest chocolate maker, Ernest Hillier, has collapsed, disappointing a generation who journeyed to Collins Street for its chocolate nut sundaes, malted milks and elegant Easter eggs.

The 101-year-old business appointed voluntary administrators earlier this week, who say it is too early to determine the cause of the collapse and the company's debt load.

The Ernest Hillier's factory outlet in Church Street, Richmond. Credit:Sunny Nyssen

But Ernest Hillier continues to trade and administrator Bruno Secatore, of administrators Cor Cordis, said he had already received two inquiries on Wednesday morning.

Mr Secatore said Ernest Hillier - which employs 60 people and has six Melbourne locations, including a manufacturing and packaging plant - would be put up for sale within three weeks.