THE shock news that chocolate maker Darrell Lea has been placed into voluntary administration had Tweed shoppers shaking their heads today.

"It's a tragedy," Tweed resident Caroline Edwards said.

"I really hope an Australian company steps in and takes it on board.

"Darrell Lea has been a special part of many Australians' lives and certainly mine.

"I honestly think it will bring a few tears to eyes if they close down entirely."

Darrell Lea employees will meet administrators on Friday to discuss job security.

With 700 jobs at risk, the 85-year-old company today confirmed their position with My Daily News.

The Directors of Darrell Lea Chocolate Shops Pty Ltd and Ricci Remond Chocolate Company Pty Ltd have appointed Mark Robinson, Jack Bournelis and Daniel Walley of PPB Advisory as Voluntary Administrators of the business.

PPB Advisory's appointment follows an ongoing review of the business by its Directors and their concerns about Darrell Lea's ability to meet ongoing financial obligations, according to a company spokesperson.

"We are undertaking an urgent review of the business with a view to preparing Darrell Lea for sale as a going concern," PPB Advisory's Mark Robinson said.

"The owners of the business have agreed to provide some short term financial support whilst we undertake this process.

"We will work with all stakeholders including employees and their representatives, licensees, customers and suppliers to ensure the business continues to operate effectively.

"PPB Advisory will update all stakeholders on any meaningful developments as soon as practicable."

Banora Point Newsagency owner John Stubbs has a section of Darrell Lea at his store.

He has decided to take a positive approach.

"There's always light at the end of the tunnel," he said.

"It's a little premature to worry."

Mr Stubbs said Group Newsagents Supplies (GNS) has contacted newsagents via a blog site asking for their support in contemplating a bid to buy Darrell Lea.

Tweed shopper Carmel Donnelly said "it would be a shame to see Darrell Lea disappear" as she knows it.

"It's not a good sign in terms of the Australian economy," she said.

Fellow resident Marjorie Bergman said she had grown up with Darrell Lea.

"It's a household name," she said.

"It's the first place you think of for a present or at Easter.

"It's very sad to see the company in such financial turmoil.

Ms Bergman said it was sadly a sign of the times, and that consumers could make or break a company.

"Maybe we haven't been buying as much and that gets back again to everyone being strapped for cash," she said.

Further information available to creditors and employees can be found under the Creditors Information section of PPB Advisory's website at www.ppbadvisory.com.