In September, the sale of the Koroit business was all but finalised, with a couple from Apollo Bay eager to take over the license as of Monday.

But the Lees now face an uncertain future following revelations from Australia Post that it might put a stop to the sorting and delivery of mail out of the historic Commercial Road building.

When the prospective operators read Australia Post's disclosure notice, detailing a potential loss in revenue of more than $30,000 a year if the delivery function came to an end, the deal was off.

The Koroit licensees fear people at 1500 addresses from Mailors Flat to Koroit, Hawkesdale to Killarney will be the ones to suffer if their mail is delivered out of Warrnambool.

Aus tralia Post maintains it has no concrete plans for any changes to Koroit's delivery service and that regardless of any changes, the town would not lose its post office.

Mr Lee, who has worked in the postal industry for more than 30 years, said he and his wife had worked tirelessly to turn the struggling post office into a successful venture.

Removing the delivery aspect of their business would leave the remaining retail enterprise unviable, he said.

Earlier this month, Australia Post confirmed it was looking to establish a larger sorting and delivery centre in Warrnambool.

"They're only doing this because they want to rationalise delivery services," Mr Lee said. "It doesn't mean it's going to work."

The decision has devastated Mr and Mrs Lee who have three adult children and were looking forward to their "semi-retirement".

Mrs Lee was emotional at the prospect of hanging on to the business, knowing it was worth a fraction of its earlier value.

"We've just lived 24 hours, seven days a week for Australia Post for so long," she said.

"They fully intend to take it (delivery function) off us but this (Warrnambool) mail centre won't be ready for 10 years."

Australia Post media manager Alex Twomey said Australia Post had simply informed the licensee it was considering changes, "as it (was) the right thing to do for any potential buyers," he said.

"We have written to the licensee this week explaining we are willing to have further discussions and consider financial compensation in recognition of the effect any potential changes may have."

Communications Workers' Union secretary Joan Doyle said basing the delivery service in Warrnambool would lead to mistakes, as the people sorting the mail would be unfamiliar with the local area.