I have waxed on about Borders and it's previous incarnation Waldenbooks before.
I will miss Borders, even if I rarely if even buy gaming material there anymore.
The trouble I think is the same reason why you don't see that many old-school record stores anymore. The digital media revolution came and Borders did not change fast enough. Yes there was also that revolving door of CEOs, and I have heard others complain about how the quality of the stores just went down hill.
I feel bad for the employees; this is a hard time to be out of work. I still feel bad for the company too, they seemed to have been doomed really since the start of the 2000s. And I also can't help but feel a tinge of guilt. Sure there was nothing *I* could have done. But I did choose to buy from Amazon and my FLGS instead, though my involvement one way or the otehr would not have helped Borders. It will help my FLGS though.
I hate to see this happen all the same.