"For decades, Publishers Clearing House doled out hefty checks on the doorsteps of hopeful consumers across the U.S., including prizes that boasted lifetime payouts. But some of those winners are now facing an end to the "forever" money they were once promised. The turmoil arrives amid PCH's ongoing bankruptcy process. The sweepstakes and marketing company filed for Chapter 11 in April, citing growing financial strain that spanned from rising operational costs and changes in consumer behavior."
"In July, gaming platform ARB Interactive purchased certain assets from PCH for $7.1 million and established "PCH Digital," a new platform that hosts sweepstakes opportunities. But under the terms of that deal, ARB says it's not responsible to pay out prizes issued by PCH prior to July 15 - meaning that the company will not pay people who won sweepstakes before that date, with an exception of two unawarded "SuperPrizes" still being promoted."
Publishers Clearing House historically issued large, sometimes lifetime, prize payouts to sweepstakes winners. PCH filed for Chapter 11 in April, citing rising operational costs and shifts in consumer behavior that strained finances. In July, ARB Interactive bought certain PCH assets for $7.1 million and launched PCH Digital to host future sweepstakes. ARB's purchase agreement states it is not responsible for prizes issued before July 15, which leaves many past winners potentially unpaid except for two unawarded SuperPrizes. ARB expressed plans to rebuild trust and establish a paying structure separate from ARB to guarantee future prize honors. The number of affected winners remains unclear.
Read at Opelika-Auburn News
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