“A very sad day – the Government really needs to wake up and change the tax landscape.”

Plans which will see WH Smith disappear from the High Street marks a “very sad day”, a leading expert has said.

Keith Edelman said the announcement was a “wake-up” call for the Government to do more to support retail.

He said: “Today is a very sad day as yet another retail brand leaves the High Street. WH Smith has been part of the retail landscape for generations and it is a huge blow to the High Street that its name is being lost.”

Mr Edelman’s 30-year career has delved into the sectors of retail, leisure, property, consumer goods, and media. He is a former Managing Director at Arsenal Football Club, former Chairman at Revolution Bars Group, former Non-Executive Chairman at Headlam Group, Chairman at Jewellery Quarter Bullion, and Board Mentor at Criticaleye.

Edelman, now 74, has landed a new role away from football. He has taken up a position with the country’s leading keynote speakers’ agency, Champions Speakers, to deliver speeches in the business world.

Addressing the wider implications of the W H Smith announcement, he  added: “The Government really needs to wake up and change the tax landscape so that retailers operating from physical outlets are not propping up the tax take through rates while the online retailers get a free ride.”

His comments came after it emerged today that the name WH Smith, a staple of UK town centres since the Victorian era, is set to disappear from the High Street after the firm agreed to sell its shops to Hobbycraft-owner Modella Capital. The new owner has said it will keep the Post Office outlets that operate in many branches, but will rebrand the High Street chain as TGJones.

The WH Smith name is not being sold and will still be used at the airport, railway station and hospital outlets that are also not for sale.

Modella Capital will take over 480 stores in retail parks, shopping centres and on High Streets including 5,000 staff.

The new owner said it would be “business as usual” while it worked on making changes to the store chain, including adding new ranges, while keeping the Toys “R” Us concessions and the 195 Post Office counters.

Image Source: Unsplash