The point being: while Borders may very well emerge from bankruptcy and go on to survive for years, their current store closings (numbering 200, or a little less than a third) will generate storefront vacancies. Some buildings will turn into something else entirely, but I'm betting a fair number will house independent bookstores.
As Paul mentions (and as I've said), there are a number of functions brick-and-mortar stores serve (specialized knowledge, author events, cafés, the experience of physically browsing, and so on) that can't be duplicated by on-line vendors.
That said, I'm sticking with my long-standing belief that independent booksellers will make something of a comeback this decade. As for you folks: do you agree? And what would draw you away from the convenience of buying books in your living room and out to your local bookstore?