We knew it was coming, but it's still sad to hear -- Eddie Bauer has filed for bankruptcy after almost 90 years in the business.

Specifically, according to WWD, the rugged, outdoorsy retailer has filed Chapter 11 in Delaware. The company will be acquired by CCMP Capital Advisors for $202 million cash. Eddie Bauer has also sought protection from creditors in Canada under the Companies' Creditors Arrangement Act in Canada.

Don't worry about where you'll get your khaki shorts and water-resistant jackets for this summer's big hiking trip, though -- WWD reports that EB has a $100 million debtor-in-possession financing commitment and doesn't plan to close its stores during the bankruptcy, so you can continue to camp in comfort and style.

And you can also shop the site, where their bi-annual "Ultimate Sale" is in full swing. Items are up to 50 percent off!