Despite the shock appointment, the Rundle Mall store will remain open until Christmas.

“Christmas is historically the strongest trading period of the year and we urge everyone to support the business during this time,” joint voluntary administrator Deloitte Restructuring Services Partners Sal Algeri said.

“Our appointment will not have any impact on Koko Black’s operations.

“It’s important that customers, suppliers and employees understand that it’s business as usual.”

The chain announced last week Algeri and Glen Kanevsky had been appointed administrators after fast growth overwhelmed the business.

“The business expanded very rapidly and undertook a series of major projects over the past 18 months,” Algeri said.

“In combination, the level of activity was beyond the resources of the business.

“We will be examining all options to recapitalise and restructure the business with a view to underpinning its future viability and growth.”

Koko Black was established in 2003 with a single outlet, combining a manufacturing facility and café, in the Royal Arcade in Melbourne’s CBD.

Since then, the business has grown significantly, and today operates from 14 locations in Australia in Melbourne (7), Sydney (2), Perth (2), Brisbane (1), Adelaide (1) and Canberra (1).

Administrators noted that a recently opened outlet in Queenstown, New Zealand, was not subject to the appointment.

Koko Black’s central manufacturing facility is in Coburg, Victoria.

The business currently employs approximately 300 people across retail and manufacturing operations.

Today is the first meeting of creditors.