Sweepstakes company Publishers Clearing House goes bankrupt

[OnlinePoker]

Publishers Clearing House, the sweepstakes company known for showing up on prize winners' doorsteps with oversize checks, filed for bankruptcy protection in New York on Wednesday.

The company will use its bankruptcy to shed its legacy direct mail catalog marketing and magazine subscription businesses, so that it can strengthen its digital advertising and online gaming businesses. It will use its bankruptcy to explore a sale of its assets or find a business partner willing to fund a long-term business plan for its digital businesses, the company said.

Publishers Clearing House, which filed for bankruptcy in Manhattan, entered bankruptcy with $490,000 in cash and about $40 million in debts to employees, vendors, service providers and landlords after a years-long decline in its legacy direct mail marketing business.

https://www.reuters.com/legal/litigation/sweepstakes-company-publishers-clearing-house-goes-bankrupt-2025-04-09/

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Once they got their hooks in you, it was hard to extricate yourself.

[hlthe2b]

1. Few magazine sales now, I guess.

I read a lot of content online, but I DO miss (and substitute as much as possible) physical books, newspapers, magazines.

When that is no longer available, most will not know what they are missing, I guess.

Somewhere Ed McMahan is shedding a tear...

[MineralMan]

2. But Wait...I May Already Have Won!

[Auggie]

3. Good

They sure had their hooks into my mother (96), who was certain she would win one of their grand prizes and dutifully bought a "trinket" with every mailing, thinking it would increase her chances of winning.

I empathize with the employees, vendors, etc. who are owed money, but the writing had been on the wall for years.

Online gaming business? I'm not surprised.