I have my doubts over the future of chain bookstores, but they are far from dead. Even in a pessimestic analysis they’ve a good decade in them if not two.
Ebooks are growing fast but physical books still have their advantages for some. As for B&N being down and out, I expect to see their logo on stores for some time to come.
My hunch is that B&N never really embraced the Internet or e-books, tied as it was to the old-fashioned world of physical books and stores. As B&N focused on managing decline, a much more nimble Amazon could concentrate exclusively on the new world it was forming. B&N needed to destroy its business model to prevail. Now it is probably too late. There is a lesson for all businesses here.