On the last ‘quarter day’, in March, many stores didn’t pay their landlords. This week, things could be even worseThe reopening of thousands of stores, combined with May’s 12% rebound in sales, has provided some respite for Britain’s’s battered retailers, but the high street crisis is far from over – not least because a monster £2.5bn quarterly rent bill falls due this week.Shop landlords traditionally collect rent in four equal chunks spread throughout the year, and Midsummer Day on Wednesday is the next so-called “quarter day”. The last one, in March, was a red-letter day for all the wrong reasons, with Primark and JD Sports among the big names that didn’t pay their rent as the country went into lockdown. Continue reading…
Via: What do retailers fear even more than the R number? The rent
Categories: English News