borders is a failed business model. high rental (at wheelock), if I don't recall wrongly, only sell english books? and for the longest time, no online presence.
but the straw that broke the camel back, prevalence of mobile devices - people either migrate to reading online or online contents -no one now has patience to read a book. Information are now acquired in bite sized, on the go.
the number of printed books aficionado is shrinking. I believe kinokuniya is also struggling surviving only because of Japanese community...I still see many of them reading paper backs.