As part of the review, the Post Office said options for the 115 sites could include alternative franchise arrangements.
This would see them run by another company.
Sharon Appleby, CEO of the Sunderland Business Improvement District (BID), said the Fawcett Street branch being at risk was “very concerning”.
“However, our understanding is that the Post Office is also looking at the options for franchising or possibly transferring ownership to other retail partnerships, so there could be a possible positive outcome,” she said.
“At this stage we can only monitor the situation closely and add our support for the retention of the Sunderland branch.”