Very sad indeed. The surprising thing for me was that the "turnaround experts" couldn't find anyone with a couple of hundred million bucks, who would believe in the future of brick and mortar book selling business. Not a single person! Even the competitors, who could have picked some of the best performing stores for pennies on the dollar, didn't step in...
Well, at least we still have some B&N stores nearby. I was never a big fan of the B&N, but it's better than nothing. It wouldn't surprise me if in a couple of years Amazon finished them off as well. Tax-free with free shipping is hard to beat.