The backup failed with a 2129 can't write error.
The repository is a Buffalo Terrastation, 4TB.
There is a folder created on a Buffalo Terrastation called Trashbox, this is basically a recycle bin. When a folder/share is created on the Terrastation the recycle bin option is enabled by default so when vRanger enforces retention policy it removes the savepoints from the vm folder but the Terrastation moves them to the Trashbox thus using up space.