Come 29th September will see retailers paying their landlords three months rent, in advance. The retailers are already nervous over special offers being doled out to attract the customers.
Several retailers were forced into administration including fashion chains, department store chains and home wares.
Though the pressure on retailers is huge they are hoping for the good. The banks may extend companies struggling with more credit to carry on their trade over the Christmas season which is known to be Golden Quarter for retailers. But after December a spate of administration is being seen after the banks tighten their noose over the retailers.
R3 president Frances Coulson said over the last quarter rent day identified many businesses that had survived the recession but did not have funds to meet their rental obligations.
The present cash crunch situation not seeing any improvement very soon the quarter day rental payments are making the retailers running for cover. They are not seeing any improvement in retail sales even the traditional Christmas sales boost may not help the ailing retailer as spending was likely to be depressed Mr. Coulson said.
Many retailers, including Sir Philip Green, the boss of Top Shop and Bhs, have campaigned for landlords to allow stores to spread their rental payments throughout the year.
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