Publishers Clearing House, known for its ‘Prize Patrol’ sweepstakes, files for bankruptcy
By WYATTE GRANTHAM-PHILIPS
NEW YORK (AP) — Publishers Clearing House, a decades-old marketing and sweepstakes company known for doling out large “Prize Patrol” checks, has filed for Chapter 11 bankruptcy protection.
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In an announcement this week, PCH said it was using the bankruptcy process to “finalize a shift away” from its legacy business of direct-mail, retail merchandise and magazine subscriptions. The company is hoping to instead transition to a “pure digital advertising” model, where it will continue to offer free-to-play entertainment and prizes.