Neil chair of The quarterly rent payments - which traditionally fall around the 25th of March, June, September and December - can mark a significant outgoing for struggling firms and R3 said many well-known high street names have entered into administration in the run-up to or days following
Quarter Days over the last 10 years.
Sophie Orme, head of Colliers International's shopping centre management team, said; "The Autumn quarter is always the toughest
quarter day for those landlords collecting rent with high percentage of retail property in their portfolio.
A number of high-profile stores - including Whittard of Chelsea, clothes shop, The Officers Club, and record retailer Zavvi have gone into administration shortly after a
quarter day, which falls in late March, June, September and December.
Other pre-war honours to fall to Trafalgar Cup winners included the 1937 St Leger to Grosvenor Bob and the 1938 Oaks to
Quarter Day.
Domestick Servants all will have their Pay, And force their Masters e're the
Quarter Day.
ON THIS DAY DAY MIDSUMMER'S DAY - A
Quarter Day and Feast of St John the Baptist.
The appeal, by a consortium of landlords including Land Securities, Hammerson and British Land, overturned the controversial Goldacre/ Luminar decisions which decided somewhat arbitrarily that the rent should only be an expense of the administration if the
quarter day fell after the start of the period of administration.
The ruling means that rent will now be charged on a pay-as-you-go basis, putting an end to 'tactical' administrations which enables retailers to operate for free if they file for administration just after
quarter day.
Last month, JJB Sports filed a notice of intention to appoint an administrator, whilst Game Group filed a similar notice before the
quarter day in March.
Most of the recent sudden closures will have been brought on by the end of June
quarter day, when shop rents become due to landlords.
Ripon Cathedral is preparing to give a choral blessing to the new Daleside Brewery's Heritage Ale on the next
quarter day, All Angels.
Retailers' performance in the run-up to Christmas is absolutely vital in not only finishing off the year well, but also securing the resources they might need to get them through the traditionally quieter times once any New Year sales finish, and with the traditional
Quarter Day on which commercial rents are paid falling over the coming festive period, it's vital that they make hay while the snow falls.
