Woolworth Group, the parent company that owns Big W, said a national review of the store network and its distribution channels is underway.
'The review is ongoing and no decisions about our network have been made,' the company said in a statement.
'We will update our team members and the market once the review has been completed.'
While the exact locations for closures is unconfirmed, regional areas are expected to be hit the hardest.
‘It is unlikely these locations will enable Big W to regain the momentum required for profitability,’ Macquarie added.