As a result of these trends, many traditional supermarket chains found themselves shedding employees in order to become more cost competitive. Several supermarket chains experienced financial distress. The Great Atlantic and Pacific Tea Company (known as the A&P brand) had filed for bankruptcy protection in December 2010. Supervalu, which operated chains such as Jewel and Albertson’s, suspended its dividend in July 2012 and hired Goldman Sachs and Greenhill & Co. to examine strategic options for the business.30 In January 2013 Supervalu sold five of its grocery chains to private equity investors, cutting the size of the company roughly in half.