Agfa is, as you said, a very complicated animal and a multi-national one.
It takes the utmost flexibility to save an operation when their core business is in decline. Most restructurings seem to be followed with...another restructuring. It all comes down to answering the question - what could you have done differently? I don't know the answer.
As to what did in AgfaPhoto after it was formed - well, you will need to talk to Hartmut Emans. Somehow both Hartmut and his investors - who owned AgfaPhoto outright - were not required to part with any money when the 2,400 workers were laid off.
It was a large and sad mess.