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 — meani