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I'd venture a guess that if Borders were to file for bankruptcy the online digital book business would remain and a large number of their bricks and mortar stores would shut down. eBooks are profitable.
But yeah, I'd get your online library there liberated and backed-up, but I say that about any retailer - not just Borders.
I've used Border gift cards to buy eBooks before. The selection isn't as large as Amazon/Barnes and their prices can be high but around Christmas they ran an awesome $5 booksale. Maybe you'll find something good.
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