"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."
"In a statement sent to The Associated Press, ARB recognized the disappointment for past winners that it said was caused by the bankruptcy process - and noted that it was "committed to restoring and preserving the trust" of the PCH brand going forward. ARB added that it was "taking decisive steps to ensure that every future prize winner can participate with absolute confidence.""
Publishers Clearing House filed for Chapter 11 in April, citing rising operational costs and changes in consumer behavior. ARB Interactive purchased certain PCH assets in July for $7.1 million and launched PCH Digital to host sweepstakes. Under the sale terms, ARB says it is not responsible for prizes issued by PCH before July 15, so most pre-July winners may not receive promised payouts, except for two unawarded SuperPrizes still promoted. ARB expressed awareness of past winners' disappointment and pledged to restore trust, proposing a separate payment structure to guarantee future prize honors. The number of affected winners remains unclear.
Read at Boston.com
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