This Sounds Like.........
The story of RadioShack in the "US of Mis-Managed A".
RadioShack became a Tandy company after the original suffered through pretty much the same story of mismanagement. It was purchase by Tandy, which was a leather company but knew how to run a storefront and sell things people needed and wanted.
In the latter parts of the 20th century the same thing happen again, corporate management was lost to the evolving market, went the wrong way, refused to support the baseline business model and got into selling over priced junk, otherwise known here as "TaT".
The moral of the story here is that corporate management has for sometime now been totally disconnected from the role of supporting operations in the field where the operating income is generated, to becoming an overload which has absolutely no experience in said operations.
I feel no sympathy for businesses that operate then fail this way. It's just another example of why the MBA's of corporate management should be taken out to the parking lot of their over priced shiny new office complexes and shot with the biggest possible gun available.
Hey management, you want sympathy: It's in the dictionary, somewhere between "shit" and "syphillis". The really awful part of this scenario is that the same MBA's that did this will move on to the next business entity and do the same thing again and again. But hey, that's OK because they and their buddies walked away with their bonuses and their shiny already prepaid up to the last day, when the last key cylinder on the last front door is turned to the locked position for the last time.