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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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.
Mr Haslam's comments come after the latest Quarter Day, on which commercial rental payments are traditionally due - and after Newcastle United and House of Fraser owner Mike Ashley cited "greedy landlords" for putting three stores in jeopardy amid difficulties agreeing on rents.
ON THIS DAY DAY MIDSUMMER'S DAY - A Quarter Day and Feast of St John the Baptist.
"In the New Year, not only do restaurants tend to suffer from a curb in consumer spending after festive excesses, they are also faced with the challenge of rent quarter day."
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 substantial financial pressure already being faced by retailers across the north east stepped up another notch with the third 'Quarter Day' of 2012.
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.
September 25 marks the latest 'Quarter Day' on which commercial rental payments are traditionally due to be made, raising concerns that more traders in the sector will be feeling the pinch on their finances.
"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."