Shops 'face perfect storm of rising costs and falling spending'

Property agent JLL warns of closures this year for retailers already struggling with rise of online shopping

Shops in Britain face a perfect storm of rising costs and falling consumer spending in 2017, one of the world's leading commercial property agents has warned, raising the possibility of more closures after the demise of BHS last year.

Retailers will have to contend with rising inflation, labour costs and taxes at the same time as consumers tighten their belts, piling on the pressure for businesses that are already having to deal with the rise of online shopping, according to property agent JLL.