The supermarket giant struck a deal in December, 2016, to sell its 527 petrol stations and convenience stores and 16 development sites to BP for $1.8 billion
But the Australian Competition and Consumer Commission rejected the deal in December last year, arguing BP's acquisition would substantially lessen competition in fuel prices
Mr Banducci said the company was disappointed in the ACCC's decision and now that is has traded the busy Christmas season, the group was considering its options
Those options include launching a court challenge to overturn the ACCC's opposition or restructuring the sale
"We are regrouping and assessing our options for the business but our main focus is to ensure there is minimal disruption to our team members and customers at this time," Mr Banducci said.