DING dong merrily on i -shoppers can feast on a load of bargains on CHRISTMAS DAY as desperate stores launch their sales online.

Stores like Asda, Currys, PC World and Dixons are are all slashing prices as we tuck into turkey-24 hours ahead of the usual start of the sales on Boxing Day.

But John Lewis will be an even earlier bird, launching its online bargains on CHRISTMAS EVE, two days before the beginning of its sales in store.

Competition is also hotting up on the High Street as shops under pressure from poor sales due to the credit crunch chop their prices.

It means this year's festive sales are set to be the biggest ever-and today the News of the World reveals where you can snap up the best bargains from Boxing Day.

HOUSE OF FRASER will launch its bonanza with up to 70 per cent off. Selected stores will open from 8am to 9pm.

Top fashion brands such as Ben Sherman, Ted Baker and French Connection will be half price in JOHN LEWIS.

Saving

SELFRIDGES is also launching an in-store half price sale, saving shoppers hundreds on goods ranging from Ralph Lauren suits to kitchenware.

BOOTS will also have up to 50 per cent off some beauty products and toys, including Bob the Builder, Barbie and High School Musical favourites.

Gadget lovers will be able to cash in too because Apple is chopping the cost of the popular iPhone-bringing it to under £200.

And SUPERDRUG will lop up to 90 per cent off its prices from Christmas Eve.

It is reducing the cost of a whopping 24,000 products-so bargain hunters will be able to pick up some items for just 10 PENCE.

Supermarkets are also breaking with tradition by opening their stores early. They usually shut on Christmas and Boxing Days to give staff a two-day break.

But this year Tesco will open 189 stores on December 26, Asda will have 46 shops open and Sainsbury's will have 36.

The record number of pre-Christmas sales showed that retailers are desperate to lure in shoppers following a downturn in consumer spending.

Cut

Retail expert Jonathan De Mello said: "It is brilliant for shoppers because they can go out and get a bargain. It's going to force the retailers to discount even further."

Economist Vicky Redwood said: "Christmas is supposed to be a busy time but retailers will have to cut their prices even more in January-so shoppers should expect to see up to 90 per cent off in some cases."

But experts warn the price war on the high street could drive smaller shops out of business after squeezing their profit margins too far.

Andrew Garbutt, retail director at PricewaterhouseCoopers, said: "Everywhere you look on the High Street there is a sale on.

"But it's not just about getting people in the store, it's about getting consumers in profitably."

The Federation of Small Businesses forecast that 2,800 firms would go bust in a month from mid-December.

Spokesman Stephen Alambritis said: "This is the mother of all Christmases for small businesses. It really is make or break time."

..but there's gloom on sigh street

MAJOR high street names are at risk of going BUST next year as an economic bloodbath is unleashed on Britain's shopping centres.

Analysts believe that some of the best known retail names may follow in the footsteps of Woolworths-which is closing its 807 stores.

Even mighty DEBENHAMS is facing a tough year, with fierce competition and £994 MILLION debts-although sales remain strong at the 140-store chain.

CLINTON CARDS is axing stores after plunging into the red. The latest results show the company racked up a £13 million loss in the year to the start of August. Nick Bubb, retail analyst at stockbrokers Pali International, said: "Clinton Cards has got a lot of debt, and the card market is weak.

Shares in JJB SPORTS have taken a kicking after falling sales, and the retailer made a pre-tax loss of £9.7 million for the six months to July 27.

Mr Bubb said: "JJB is up to its borrowing limit. After Christmas it deperately needs to sell off its fitness clubs if it wants to avoid problems."

Fear

Entertainment chain ZAVVI has parachuted in an emergency restructuring team from auditors Ernst & Young.

The struggling firm must repay a whopping £100 million of debt to its main supplier Entertainment UK while facing competition from supermarket and internet CD and DVD sales.

Analysts fear department stores will struggle in the downturn.

Howard Archer, chief economist at Global Insight, said: "Department stores and the middle market will be hardest hit. Woolworths is not going to be the last casualty."

But Lisa Williams, Debenhams head of investor relations said: "We're in a good position relative to others in the market."

Don Lewin, Clinton Cards chairman, said: "Obviously business is difficult for everyone at the moment, but Clinton Cards is a good business and we're OK."

A spokesman for Zavvi said it was dealing direct with suppliers to get products into its 125 stores, adding: "Zavvi is currently reviewing its distribution strategy and will announce plans in the near future."

JJB Sports declined to comment.

Coleen's 11 bags of WAG swag!

WAG Coleen Rooney tries to solve the High Street credit crunch . . . all on her own!

Coleen, 22, showed her support during a three-hour, 11-bag spending spree in Manchester's swankiest shops.

Click here for pictures of Coleen's bag shopping spree!

And it took THREE employees from the Harvey Nichols pricey personal shopping service to help carry all her swag to her Range Rover.

But Wayne's missus, who earns £40k a month for a magazine column, is cutting back a bit-she carried three bags herself.

And her Chanel handbag, of course.