The retail world takes another hit as Payless Inc, the discount shoe chain is preparing to file for bankruptcy. 

According to Bloomberg, Payless Inc is planning on closing 400-500 stores, as they reorganize operations. It is unclear if any of the Payless stores in the Hudson Valley will be among the stores to be closed.

Payless has many stores in the Hudson Valley including the Poughkeepsie Galleria and the Newburgh Mall. Payless originally planned on closing 1,000 stores, and that number may still be in flux.

The company was founded in Topeka, Kansas, has more than 4,000 stores in 30 countries, and employs close to 22,000 people.

This bankruptcy adds to the terrible past few years retailers have had. Sears, JC Penny, and Kmart are just a few of the retailers who have recently announced that they will be closing hundreds of stores.

The retail industry is trying to adapt to more online purchasing, shifting away from mall shopping.