Anyone observing the latest chapter in the Kodak story would do well to read Clayton Christiansen's The Innovator's Dilemma.
Kodak, you see, invented digital photography but didn't invest for fear of cannibalising the film business. This the only technology choice where this occurred.
There ought to be a saying somewhere, if you don't cannibalise your own business you will just end up road kill.
That said, this is the US, and "bankruptcy" doesn't mean what we think it means.
Novae Meridianae Demetae Dexter delenda est