The parent company of the errant semiconductor operation put an industry veteran in charge. itt was assumed that he was going to close it.
Instead, the veteran decided to save it.
The head of the microprocessor division re-designed the company's proprietary processor and persuaded General Motors to put it into their vehicles.
That deal was the first large sale of a microprocessor to the car industry, it was seen as marking the creation of the embedded processor market, and it was largely instrumental in saving the semiconductor operation from closure.
Moral: There's always a new application.