Dan Gregory from Between the Covers Rare Books has an insightful post here about the closing of bookstores like Serendipity Books in Berkeley, CA, and the original Borders Books in Ann Arbor, MI.
Here is his conclusion:
Owning and operating a bookstore has NEVER been an easy way to make a living. But booksellers are an obstinate and romantic lot. From their corps arise, from time to time, people with enough business sense to actually support their Quixotic dreams. Serendipity and Borders have closed, but independent bookstores like them will always be around.
