This strategy has worked well for both Shakespeare and Co. in Paris and Shakespeare and Sons in Berlin. Books + Bakery + Coffee. Both of course are set in living pedestrian cities. https://www.shakespeareandsons.com
I agree it's not exactly the random indie bookstore though as it's probably listed in every Paris guidebook.
But that was a chain, maybe other locations forced closured everywhere, and that Borders could have survived. I doubt it, however.