Is House of Fraser's rent coup really such a triumph?

But for those in the know the reality is of course more complex. True, it is quite a coup for such a big name and a department store to have got the deal.

But considering House of Fraser has only thus far managed to do so on 15 of its stores - less than a quarter – when it is well-known that it has been talking to all of its landlords for some time, this looks slightly less of a victory.

We learnt at the weekend that among the 15 centres where HoF will now pay monthly are some impressive names including Meadowhall. But also on the department store retailer's list are central London locations, Bluewater and others that haven’t budged on rents. Perhaps the more important point is that HoF has so far failed to win these centre’s landlords over.

And look even further beneath the surface to the even more complex problems surrounding Baugur’s future – and a “victory” over rents might seem more like a sign of tough times. More and more retailers are asking to go monthly and quite rightly in most cases, but it should be done cautiously.

Of course there are iniquities in the rent system which need to be addressed, but it’s still the case that while a lot of retailers have signed up to campaign against quarterly rents, those who are asking for them seriously are doing so out of necessity.

The reality is that asking to go monthly is more of a pragmatic move based on two very tough quarter dates coming up and the uphill struggle retailers will face making them. The problem is that by making it so public that you are in need of a break, often you can do more damage to your reputation than good to your bank balance.

Expect more news on the HoF front. With the landlords of another 15 centres apparently considering the switch, it will be interesting to see how this one pans out.