It's strange - when Borders came to our town (Corvallis, OR) I was excited. In the end, though, the number of full price books I bought I could probably count on my fingers. The CD listening stations are now no longer needed and the location wasn't convenient enough to stop in for a coffee.
Our independent bookstores are still alive, luckily.
Music stores have suffered similar fates. The big, generic chains have been destroyed by ecommerce but smaller shops that provide expertise in a distinct niche have survived and even flourished. I think there's a lesson for software businesses in this too.
Border's demise, at least in Australia, was investing too much in the CD business. That lead them to renting much bigger space that they needed and increasing cost. When the CD years faded, they felt it hard on the balance sheet.
The CDs and DVDs were also horribly expensive compared to local competition, even if you used coupons. I honestly don't know why they thought they were in that business.
Our Borders had a tolerable collection of CS texts, diminishing in quality over the past couple of years. When they stopped getting new SF in on release days, I stopped buying books there.
Our independent bookstores are still alive, luckily.