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Publishers Clearing House, known for its 'Prize Patrol' sweepstakes, files for bankruptcy

  • Publishers Clearing House filed for Chapter 11 bankruptcy protection on April 9, 2025.
  • Revenue declines and losses starting in 2022, linked to direct mail costs, prompted this action.
  • PCH plans to restructure operations, shifting focus to digital advertising and free-to-play entertainment.
  • CEO Andy Goldberg stated the sweepstakes will remain a cornerstone and free entertainment will continue.
  • PCH secured financing, pending court approval, to support operations and expects continued digital services.
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Bloomberg broke the news in United States on Wednesday, April 9, 2025.
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