Top German retailer KarstadtQuelle has announced it will either sell or publicly list its unprofitable mail-order division Neckermann.

The decision is part of the firm's ongoing restructuring programme which has already seen it sell off stores and axe jobs.

KarstadtQuelle will also sell units in France, Spain and Portugal operated by second mail-order business Quelle, allowing it to concentrate on the German and Russian markets. It will shut down Dutch and Belgian units at the start of next year.

The company will now concentrate on the Golden Ager, Premium and Communities mail-order segments.

It will either look for a buyer for its mail-order services group or look for a strategic partner to jointly invest.

The mail-order services group is comprised of 14 call centres, five logistics centres and one IT facility with a total of 10,000 workers.

The company has also revealed plans to launch itself into the teleshopping sector and to focus its attention on growth markets including Middle and Eastern Europe, particularly Russia.

KarstadtQuelle last month sold its entire global sourcing business to Li & Fung for an undisclosed price.

Earlier in the year, it offloaded debt with the sale of its real estate for EUR4.5m (US$5.39bn).