Upmarket chocolate and cafe chain Max Brenner's Australian business has gone into voluntary administration, citing rising costs and sluggish retail trade.

McGrathNicol, which was appointed administrator on Sunday by company directors, said Max Brenner's 37 stores would continue to trade as usual while it completed an urgent review.

Administrators will see if it is possible to sell the business as a going concern. Credit:Michelle Smith

McGrathNicol said it was assessing the prospect of selling Max Brenner as a going concern or recapitalising the business, which has about 600 staff and is headquartered in Alexandria, Sydney.

The Australian business is owned and run by husband and wife team Tom and Lilly Haikin, who hit BRW's Young Rich list in 2013 with a fortune of $40 million.