Embattled celebrity chef George Calombaris has put his Toorak mansion on the market as his famous restaurants teeter on the brink of collapse.

The ex-MasterChef judge could collect millions from his French provincial-style home, which has just been listed for sale.

It comes about two weeks after the chef sold his four-bedroom Safety Beach holiday house for $1.01 million at an Australia Day auction.

Public records show the grand Toorak home is in the name of Calombaris' wife Natalie Tricarico. CoreLogic records show they bought it for $4.75 million in 2013.

The family copped backlash from locals while living at the house after adding a gym to the backyard.

Neighbour Helen Elsworth previously told the Herald Sunthe addition was a "hideous black box" and Calombaris was "the worst neighbour I've had in my life".

His company Made Establishment has now backpaid $7.8 million in wages and superannuation after it self-reported about underpaying more than 500 staff in 2017.

Calombaris' restaurant kingdom could appoint a voluntary administrator as early as today, as the chef meets with creditors to outline plans for the business.

Kay & Burton South Yarra managing director Ross Savas confirmed he had listed the property and was in discussions with the Calombaris family about the upcoming sale.

A price guide has not yet been confirmed for the house, which is for sale via an expressions of interest campaign.

Pursuit Property buyer's advocate Brad Willmott said the family would likely make "capital gains" from the five-bedroom house.

"It's in a small court off Lansdowne Rd, so it's going to appeal to business people and families downsizing from larger properties in the area," Mr Willmott said.

"It used to have a whole bunch of trees in the backyard, but those have been replaced with some new additions."

Calombaris' media liaison Mark Hawthorne said the chef was not available for comment.

It's understood the couple recently bought another Mornington Peninsula property in Arthurs Seat.

Originally published as Calombaris lists Toorak mansion amid crisis talks