Dutch clothing retail chain C&A may be sold to Chinese investors, with a deal close to being finalised, according to German weekly magazine Der Spiegel.

No details have been released to identify the buyers, and C&A is not commenting directly.

Founded in the Netherlands by the German/Dutch Brenninkmeijer family in 1841, C&A has more than 1500 stores across Europe employing about 35,000 people.

With a focus on offering affordable clothing for men, women and children, the company also has a presence in China.

The family owns C&A through Cofra Holding, which has its headquarters in Switzerland. It says “ongoing restructuring” of the brand includes exploring ways to pick up the pace in growth markets like China and in the digital area.

“This could potentially include partnerships and other kinds of additional, external participations.”