Payless Shoesource is set to close an under performing Hudson Valley location as part of a just announced bankruptcy. 400 stores will be closed immediately as a result of the filing, including 22 in New York. The Payless on Brookside Avenue in Harriman Commons will shut it's doors, but Poughkeepsie, Newburgh and Kingston remain unaffected.

According to a website Payless launched to address customer questions and concerns, they expect the process to take about four months but that could vary. They will be able to reduce their debt load by as much as 50% will will help position the company for long term success.

They will continue to do business and don't anticipate any inventory issues during this time. So in other words, if you shop there, the shelves will still be stocked. The closures will not affect any existing gift cards or loyalty programs.

A third party will be brought in to oversee the liquidation which brings back memories of 'the Bobs' from Office Space.