Woolworths plans to sell its struggling Dick Smith consumer electronics division as the supermarket giant steps up its price war with rival chain Coles.

The Sydney-based retailer said it was considering several unsolicited offers for Dick Smith, and would aim instead to sell consumer electronics through its Big W and online operations.

Woolworths said as many as 100 underperforming Dick Smith stores out of 386 in Australia and New Zealand would be closed as part of an accelerated rationalisation of the business before sale. Affected staff would be offered redeployment elsewhere in the group.