It appears Eclipse Aviation is nearing its final destination: bankruptcy and complete liquidation, essentially a complete gutting of the company.

The struggling jet maker made the announcement Tuesday afternoon, creating even more anxiety for its nearly 800 workers who are still on unpaid leave.

The governor's office sent out news release, urging Eclipse employees to file for unemployment in the wake of the news.

Company president Michael McConnell says "it's very sad it happened this way."

He says the company is now talking to its 800 workers who were put on unpaid leave last week. McConnell declined to say what the company is telling them, saying it would be better if they got the news from the company rather than hearing about it on TV.

Chapter 7 bankruptcy is essentially like a going out of business sale for a corporation. Eclipse will likely have to sell property and equipment to pay off its creditors.

Since it started, Eclipse has taken in around $1 billion in investments.

It is now possible that another company, like ETIRC Aviation, which has been waiting to buy Eclipse, could come in and buy the business in pieces, possibly for a cheaper price, then rebuild and restart the aviation company.