The retailer is currently conducting a strategic review into the company's financial performance and is looking at all its operations. 

There are suggestions up to 20 stores across the nation could close. Analysts have said Myer might need to close seven to 20 stores.

However, the company has declined to comment on individual stores. 

When asked about the future of its Bendigo store, it replied with a general comment via media liaison. 

"The business is currently conducting a strategic review of all aspects of its operations, including asset productivity," the statement read. 

"We won't pre-empt the outcome of the review which is due to be completed by the end of the year."

Myer did not respond to questions asking whether regional stores were part of the review. 

The first Myer store was opened in Bendigo in 1900. 

The company announced a surprise double-digit fall in full-year profit during its half-year results in March. 

Myer chief executive Richard Umbers described the half-year results as unsatisfactory.

"It's clear that our immediate focus must be on improving our performance," Mr Umbers said.

"The board have a real sense of urgency and won't be standing still."

Mr Umbers said the new strategy would focus on customers and brands while continuing to invest in online and improving the productivity of assets, including stores and supply chain.

Mr Umbers highlighted the need to embed the values of Sidney Myer himself into a contemporary setting.

“It’s clear that we need to take courageous and decisive actions to address significant challenges and position ourselves for sustainable earnings growth,” he said.

“New Myer has to look and feel different.”