Zircon, this has been coming for a while, and was as inevitable as winter (unless you're in Florida). You were probably the only thing holding the business together. I wonder what it will be worth by the time you come back? I assume he can't get his hands on the business money if he's broke, which is a blessing.
While the business is new, sucking up money and losing it through his neglect, it might be a good time to make him a low offer and go out on your own. He's incapable of keeping it going without you so if he plays hard-ball you can leave and it will be worthless.
Now you have time to think, can you see your way clear to separating officially from him? Business and relationship?