Lotte Group is reportedly considering ways to liquidate its department stores in China after its operations were hit by Beijing’s retaliation against the deployment of the U.S.' THAAD missile defense system in South Korea.

According to a group insider Sunday, the South Korean conglomerate is looking at various options, including selling off its department stores amid business woes. Earlier this year, the firm decided to sell its supermarket business after it suffered significant losses.  

Lotte launched its Chinese department store business with its first store in Beijing in 2008 and has since opened up branches in four other locations.

However, after Lotte agreed to sell a golf course to the Korean government so it could become the site of the THAAD system, Chinese consumers opted to boycott its products.

Amid the retaliation, Lotte experienced losses exceeding two trillion won, including those from the suspension of a construction project in Shenyang, operating losses from its grocery chains and a fall in sales in its duty free business.

Three stores in Tianjin and Weihai are reportedly being considered first for liquidation.