The retailer made 185 staff redundant across its 45 stores on December 31. It also made nine redundancies at its Manchester head office.
Bill Dawson and Ian Brown of Deloitte have been appointed as joint administrator to the retailer.
Dawson said: “We will continue to seek a buyer for the business and assets of the company but do not intend to trade the business.”
Passion for Perfume was founded in 2004 by Brendan Flood, head of Modus property and private equity business.
In 2006 Passion for Perfume had a turnover of£5.9 million and had hoped to become profitable in 2007. Shareholders stopped funding the still loss-making business in summer last year.