Publishers Clearing House bankruptcy ends payouts to 'forever' prize winners

"Publishers Clearing House, known for its surprise home visits and oversized prize checks, has filed for bankruptcy, ending decades of "forever" payouts to past winners. The sweepstakes company, which operated for nearly 60 years, sold its assets to mobile gaming firm ARB Interactive for $7.1 million. Under the agreement, however, the buyer will not honor lifetime payments owed to winners before July 15."

"IN CASE YOU MISSED IT | FTC orders Publishers Clearing House to pay $18.5 million to 'misled' customers For many, the news came without warning. Some winners reported they only learned of the bankruptcy when their checks stopped arriving. This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy."

"Some winners reported they only learned of the bankruptcy when their checks stopped arriving. This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy. Publishers Clearing House became a pop culture fixture with TV ads showing winners stunned on their doorsteps as camera crews captured the moment they received checks promising cash for life."

Publishers Clearing House filed for bankruptcy, ending decades of "forever" payouts to past winners. The company sold its assets to mobile gaming firm ARB Interactive for $7.1 million. Under the sale agreement, the buyer will not honor lifetime payments owed to winners from before July 15. Some winners only learned of the bankruptcy when their periodic checks stopped arriving. The Federal Trade Commission ordered Publishers Clearing House to pay $18.5 million for misleading customers. Publishers Clearing House became a pop-culture fixture with televised surprise home visits and oversized prize checks, and the bankruptcy ends that chapter in sweepstakes history.

Read at Scripps News