Worst Christmas since banking collapse

The gloom on the high street has taken its toll with desperate UK retailers opting for discounting as early as November.

The weekend saw deep disounting as analysts predict worst Christmas for British stores since Lehman Brothers collapse.

The biggest names on the high street were slashing prices by so much this weekend that experts are predicting the worst Christmas for retailers since the collapse of Lehman Brothers.The American bank's bankruptcy three years ago plunged the world economy into recession and resulted in the high street being decked out in "sale" signs by November.