More than 10 national or regional retail chains risk going bust next month, insolvency experts are warning.
The warning comes from Nick Hood, a partner at Begbies Traynor.
"Not a lot of them are profitable because of the discounting at a time when they would normally generate all their profits for the year," he said.
It comes as research from accountants PricewaterhouseCoopers suggests that 82% of retailers are discounting their merchandise this weekend.
The figures are compiled from London's Oxford Street, where many of the country's top retailers have stores. http://news.bbc.co.uk/1/hi/business/7794426.stm