It seems strange to hold up Waterstones and W H Smith for ethical behaviour when they are responsible for the closure of many small independent bookshops between them.
Waterstones more so than anyone else. Case in point: Bolton used to have two very popular indie bookshops that existed happily alongside a WHS in the town centre.
Waterstones came along and put paid to both of them. At least some of the staff from the smaller of the two stores got jobs at the Waterstones in its early days.