Brands are a like a living organism, they are created, they grow, get a different look and sometimes they disappear. If a well-known brand disappears, this is always a shock. But never mind, sometimes brands revive, like Nokia.
That old brands still have a certain value, cannot be denied. The value does not evaporate the moment that a brand is not on the market anymore. As it is quite easy to freeride on the goodwill of a ceased trademark, sometimes companies register these old famous brands. Basically this is a filing in bad faith, but when the proprietor is out of the picture and no longer exists, such applications can be successful. And if more people register this old brand, you will get issues between this renewed registrations.
This happened recently in the EU. The trademark PAN AM LOUNGE has been registered, which refers to the famous airline. Under this brand the owner has an exclusive club in Berlin (where once the stewardesses of Pan Am stayed). The logo Pan Am (!) of the airline was filed as a trademark by an other company. This resulted in a opposition whereas the airline was no party at all. Eventually, the application was rejected for a large part of the specification.
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“Trademark protection gives freedom to do business.”