"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."
"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 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 sweepstakes. Under the purchase terms, ARB does not assume responsibility for prizes awarded before July 15, meaning many past winners of lifetime or "forever" payouts may no longer receive promised payments, except for two unawarded SuperPrizes. ARB acknowledged winner disappointment and described plans for a separate prize-paying structure to ensure future winners receive payments regardless of ARB's finances. The total number of affected past winners remains unclear.
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