Greek restaurant franchise, Souvlakihut has been placed into voluntary administration.

The news comes less than a year after Souvlakihut was listed as the third fastest growing franchise system in Australia by BRW.

According to Smartcompany, Laurie Fitzgerald from BDO has been appointed administrator and there is said to be at least one party interested in purchasing the company, with the Franchised Food Company rumoured to be a potential acquirer.

Fitzgerald was unavailable at the time of publication and Souvlakihut declined to comment.