The owner of the Baskin Robbins and Cookie Man franchises has gone into voluntary administration.

Allied Brands has lost its licence to operate the 92 ice-cream stores it owns throughout Australia, as well as other homeware store franchises.

The company has been in financial trouble since early this year.

"Over the last year the above businesses struggled in an uncertain economic environment which combined with continued expansion of the group led to cash flow constraints," the company said in a statement.

Last month the US company Dunkin Brands, which owns Baskin Robbins, terminated Allied's master franchise agreement to sell the ice-cream label in Australia.

In the wake of Dunkin's decision, Westpac Bank appointed McGrath Nicol as the receivers and managers of certain assets of Allied.

Allied says the firms' operations had been "significantly impacted" following the agreement's termination.

Allied also holds the franchise for Villa and Hut, Kenny's Cardiology and Awesome Group.

The announcement comes a day after the Australian arm of Krispy Kreme doughnuts said it was going into voluntary administration.

The company said it had been brought down by several poorly performing stores and suffered falling profits.

Krispy Kreme has 54 outlets across Australia, the highest of any country outside the United States.