You are aware of Amazon, I think? That is why Borders closed and B&N has closed many of their stores. This is why Best Buy has gone from a huge selection of DVDs and CDs to only a handful and in its place are selling men's shavers and blenders.
Family Bookstores got most of their revenue from books, CDs and DVDs, but brick and mortar can't compete with Amazon or Christianbook.com.
So they did what Best Buy has done. Replaced some of their selection with other items because they could not move their books or CDs.
What would you have done differently?
They changed their name and focus before Amazon was a serious competitor.