Eastman Kodak is a good example. Fujifilm arguably sort of came out the other side but much smaller company in much different country. B&M retail, especially i

Eastman Kodak is a good example. Fujifilm arguably sort of came out the other side but much smaller company in much different country. B&M retail, especially in the traditional department store sense, is much reduced. Could Sears have become Amazon (presumably including AWS)? I guess. Would anyone to a first approximation who was employed at Sears still be there? Probably not. Would Sears as it existed have brought any particular assets or expertise to the table? Probably not. At some point, reinvention is sort of pointless because it means bringing along a lot of baggage that has net negative value.