The decline of the camera film and the development of technology caused Kodak to file for bankruptcy. They were once the biggest players in the field, making billions, but their competitors moved faster and adapted better to the market’s needs and requirements.
3. American Motors
The company started to slowly lose ground in front of its competitors in 1960. And eventually, in the ’80s, American Motors was bought by Chrysler due to the popular and successful overseas vehicle makers and the bad economy, which was affecting the sales.