German weekly news magazine Der Spiegel reported Sunday that the owners of European fashion chain C&A are considering selling the company to a Chinese investor. Der Spiegel published a report online that cited unnamed company sources saying a deal was close to completion. The company was founded in 1841 in the Netherlands by brothers Clemens and August Brenninkmeijer. The Brenninkmeijer family still owns C&A via Swiss-based Cofra Holding AG. In a statement, the holding company said it was "fully committed to a successful, future-proof C&A business and as such at C&A we have embarked on a transformation and growth program."

Source: ABC News January 14, 2018 16:42 UTC