quarter day

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quarter day

any of four days in the year when certain payments become due. In England, they are Lady Day (25 March), Midsummer Day (24 June), Michaelmas Day (29 September) and Christmas Day (25 December). For Scotland the days are Candlemas (28 February), Whitsunday (28 May), Lammas (28 August) and Martinmas (28 November).

QUARTER DAY. One of the four days of the year on which rent payable quarterly becomes due.

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The financial outlay associated with Quarter Day can have a big impact on retailers' operations, and if any owners feel that the cost could be a tipping point for them, they should be speaking to their landlords as soon as they can to see what can be done - after all, the vast majority are likely to want to avoid the worst case scenario of their property becoming avoidably empty.
The other Quarter Days are Lady Day (March 25), Michaelmas (September 29) and Christmas Day (25 December).
Quarter day - when many retailers pay three months rent in advance to landlords - is often the tipping point for insolvency and previous quarter days have seen the likes of Habitat, Jane Norman and TJ Hughes enter administration.
Mr Wood said that over the past three years a number of high-profile firms had gone into administration on these quarter days , which fall in March, June, September and December, after they did not have sufficient funds to pay their rent.
At that rate he would have repaid the missing money in two and a quarter days.
This maintained the real length of the year at 365 and a quarter days, while accommodating a lunar year in which twelve lunations would cover only 354 days.
And it is to be remembered that this Act does in no wise effect [sic] the Quarter Days, although the Feasts on which they depend, are altered eleven days sooner in the New Style, yet the old Days are marked in the Almanacks with Red Letters, and called Old Michaelmas, Martinmas, &c.
And to make it even harder, the duo will only be allowed breaks of five minutes every hour, leaving them no time to sleep during the challenge which will run for over four and a quarter days.