Quarter Days

(redirected from quarter day)
Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.

Quarter Days

Various
The four traditional quarter days in England, Northern Ireland, and Wales are Lady Day (March 15), Midsummer Day (June 24), Michaelmas (September 29), and Christmas Day (December 25). They mark off the four quarters of the year and the times at which rents and other payments are due. It was also customary to move into or out of a house on a quarter day.
In Scotland the quarter days are Candlemas (February 2), Pentecost (or Whitsunday, the seventh Sunday after Easter), Lammas (August 1), and Martinmas (November 11).
See also Cross-Quarter Days
SOURCES:
DictDays-1988, pp. 18, 66, 73, 75, 93, 131
DictFolkMyth-1984, p. 601
FestSaintDays-1915, pp. 163, 166, 204
OxYear-1999, pp. 521, 588
RelHolCal-2004, p. 268
(c)
References in periodicals archive ?
Numerous well-known High Street names have fallen into administration in the run-up to or period immediately following Quarter Days over the last few years, as the pressure to meet property rental payments has finally proved too much for their finances.
Yesterday's Lady Day - one of the four traditional quarter days on which commercial property rents fall due - coincided with bleak news from the CBI's monthly distributive trades survey, which showed a worse than expected balance of 44% of retailers who said sales had fallen.
Traditional Rent Quarter Days, which see retailers pay three months' rent in advance to their landlords, often see a resulting spike in retail insolvencies shortly afterwards because of the squeeze on cash flow and complex rules on administration costs.
With the passing this week of the latest Rent Quarter Day, research from R3 has revealed more doom and gloom around the corner on the High Street.
Quarter day - when many retailers pay three months rent in advance to landlords - is often the tipping point for insolvency.
Steps to smooth cashflow pressure on retailers, such as replacing the long-standing Quarter Day rental arrangements for commercial premises with a monthly option, could give struggling high street retailers more breathing space in their battle against online rivals.
R3's Midlands chairman Richard Philpott, a partner at KPMG in the region, said: "These are the first real growth signs we have seen across the retail sector for a considerable time, but for those businesses relying on a physical High Street presence, the Quarter Day deadline could prove one burden too many when it comes to remaining competitive with e-commerce.
Tension among the region's retailers will intensify this week as firms prepare for quarter day rental payments for the last time before Christmas, according to a business advisory group.
RETAILERS across the Midlands are bracing themselves for a new financial fallout following last Sunday's Quarter Day deadline.
Ross, who is chair of the North East arm of insolvency trade body R3, and a director in the corporate recovery department of the Sunderland office of accountancy firm RSM Tenon, spoke out as commercial landlords were due to receive their latest Quarter Day payments from tenants.
Today's deadline for quarterly rental payments could see a repeat of the position after the last quarter day in June when a wave of retail chains went bust.