Discount department store Big W could be forced to close up to 60 stores.
A Macquarie Wealth Management report claimed the retailer is under review by parent company Woolworths Group.
The review includes stores and distribution centres, with up to a third of sites reportedly up for reconsideration.
The report confirmed most of these are in regional centres.
Big W reported a loss before interest and tax of $8 million for the first half of the year.