Amidst worsening conditions on the high street (yes January and February was a blip), retailers are in negotiations with landlords to defer rental payments as in store spending slides.

Whilst landlords might try and play hardball, they are aware that an outright refusal could result in having no tenants at all. Indeed void space is growing as a percentage of income and rose to 6.5% in February 2008 from 5.9% at the same time last year.

John Lewis followed up its positive Christmas period trading performance with the news that last week saw the biggest sales drop in almost a year. A director blamed the downturn on the ‘unusually’ warm weather and not read too much into the figures as longer erm trading prospects remain positive.

The claims of warmer weather are supported by met office figures which show February temperatures being 1.2 degrees higher than average. Maybe John Lewis should expand its northern operations as its been cold enough to freeze the balls off a brass monkey up here!