Waterstones came back, and recently, too. [0] They're a similar company that faced similar issues - it CAN be done. This is about a lack of vision and will from the management to re-position the company, make hard cuts, and tap into the best things it had going for it. Stripping the company down to book value assets with no repurposing or new goal is what you do when you've given up and become a liquidator. Even "Kodakcoin" is a better plan.

[0] https://www.theguardian.com/books/2017/feb/03/balancing-the-...