A SUCCESSFUL businessman killed himself when his new company went bust, an inquest heard.

Malcolm Arnold, was discovered hanging from a rope in the garage of his home at Hey Hold Farm, County Brook Lane, Foulridge, by his wife days after his furniture shop closed down last September, the hearing was told.

The 47-year-old opened Mihan, a shop selling imported Chinese furniture, in Gisburn Road, Barrowford, in 2004 after working in Italy and China.

However, when the shop struggled, Mr Arnold, who had a 10-year history of depression, became more depressed.

The inquest at Burnley magistrates was told that Mr Arnold, who previously had suicidal thoughts, became so ill that at Easter 2005 he phoned an ambulance to admit himself to hospital.

Fiona Arnold told the hearing that her husband promised her he would not commit suicide when the couple went to see a psychiatrist.

However, Mrs Arnold went to collect their daughter from school on September 24 last year and when she returned found her husband dead.

Recording a verdict that Mr Arnold took his own life, East Lancashire coroner Richard Taylor said: "I have a picture of a very talented businessman who was hard working, who dedicated his life to his work and family, but 10-years-ago started to suffer from depression.

"He worked in Italy and China and unfortunately with that sort of lifestyle there was no kind of continuity with the sort of treatment he may have had. He had an idea he thought would be successful. He worked hard at that idea, sadly it was not successful.

"It is quite clear he did a deliberate act, tying a rope round your neck is deliberate."