Turnaround plans being drawn up by variety store group Wilko, which may include a CVA, mean it may pay no rent on some stores for three years.
Wilko, which is battling to cut costs as new bosses work to breathe life back into the business, is seeking to cut rent on 240 of its 400 shops, The Sunday Times reported.
The retailer is thought likely to launch a CVA next month and some of its landlords would receive no rent until it reverts to contractual terms after three years.
It is also believed some landlords may take back their premises rather than provide them rent-free, though Wilko does not intend to shut any stores.
The retailer recently drafted in property adviser CBRE as it geared up for talks with landlords, which are expected to start in the next fortnight.
Wilko chief executive Mark Jackson is leading the turnaround efforts. He has strengthened the management team and has already made significant cost reductions, including cutting 400 jobs at the start of this year. Wilko also won financial backing from Hilco after suffering a loss last year.
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