This is a disaster i have seen more than once and restored many times. This original photo is a dye sublimination print made on a 'Kodak Picture Maker'. These were perhaps the one of the first useful tools of the early digital photo labs. You could copy printed photos even if you didn't have the negative. Back in the day when film photography was a big thing. This technology was a revelation for millions of people. This enabled them to get copies of their cherished photos. Without having to search for those pesky strips of film that no one could ever find.
Unfortunately this technology was flawed. In the next few decades the prints would dry and the lamination that secured the printed image to the sub-strait paper layer would de-laminate. This leads to small strips flaking off and the image literally falls apart before your eyes.
Below is the time-lapse video of more than 5 hours of delicate photo restoration work using Photoshop. The results are fantastic and the new photo has been printed out as a Ultrachrome Archival Photo print that can now be enjoyed for many years to come.