October saw 895 bankruptcy petitions presented, nine cases less than a month earlier, while the number of bankruptcy orders rose 30.2% to 1,013, the Official Receiver's Office says.

The October figures for bankruptcy petitions and orders were 67 and 195 higher than last year's monthly average.

On compulsory winding-up petitions, there were 50 cases recorded in October, down 28.6% over September. The number of winding-up orders made by court went up 27.3%, to 56.

For the first 10 months of this year, there were 8,934 bankruptcy petitions presented and 8,789 bankruptcy orders made. A total of 590 compulsory wind-up petitions presented and 435 winding-up orders issued during the same period.