The multimillion-dollar Toorak mansion owned by George Calombaris has been put on the market as his hospitality empire faces collapse.

Calombaris paid $4.75 million for the five-bedroom home in McMaster Court at the height of his fame in 2013. A sign asking for "expressions of interest" was put up in front of the property on Monday morning.

Celebrity chef George Calombaris is selling his Toorak home. Credit:Jason South

Sources in the hospitality industry have also told The Age and The Sydney Morning Herald that Calombaris' dining group, Made Establishment – which runs 18 restaurants and fast-food outlets – will be placed into voluntary administration on Monday after a crisis meeting to decide the future of the business.

According to sources, senior staff have been told that suppliers and staff will be paid out in any deal.