Lake Shore Health Care Center to Close in January.

October 16, 2013 Updated Oct 16, 2013 at 6:12 PM EDT

By Hilary Lane

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October 16, 2013 Updated Oct 16, 2013 at 6:12 PM EDT

IRVING, N.Y. (WKBW)- Lake Shore Health Care Center will close in January.

All 460 employees will lose their jobs.

The company giving its 90 day state mandated notice to employees and residents Wednesday.

All in-patients will be transferred to Brooks Memorial Hospital.

Lake Shore Health Care Center citing financial reasons for the closing. Representatives sending out a statement that read in part, "due in part to declining patient volumes, declining reimbursement rates, increased government mandates, and unrealized benefits of consolidation efforts related to the Berger Commission, those financial challenges are greater than ever before."