January saw 1,006 bankruptcy petitions, up 32% from a month earlier, while the number of bankruptcy orders almost doubled, to 1,268, the Official Receiver's Office says.

The number of bankruptcy petitions was higher than the average monthly figure of 890 in 2006, whereas that of bankruptcy orders was also higher than the average monthly figure of 860 in 2006.

For compulsory winding-up cases, there were 53 petitions presented and 29 winding-up orders.