Publishers Clearing House's bankruptcy means 'forever' winners will no longer get paid [View all]

Source: CNN Business

PUBLISHED Sep 16, 2025, 7:00 AM ET


For nearly 60 years, Publishers Clearing House had been known for changing individuals’ lives, fulfilling their dreams with prize money it promised would keep coming for as long as they lived.

But now the company is in bankruptcy, and winners’ dreams have turned into nightmares. ARB Interactive, a mobile gaming company that bought PCH’s remaining assets, said that under the terms of the sales agreement it would not honor payouts for those who won their life-changing prizes before July 15th of this year.

Some winners, who thought they’d never have to work again, are now finding themselves uncertain of how they’ll pay their bills .“This feels like a nightmare. I thought this was going to go on for the rest of my life, so I didn’t really have to worry about money,” John Wyllie told CNN affiliate KGW.

Wyllie, 61, of Bellingham, Washington, had been promised $5,000 a week for life. Now he’s looking for a new job, but he’s not hopeful, since he hasn’t worked for more than 10 years. He is currently living on the proceeds of sales of some of his prized possessions, like a jet ski and a trailer. But Wylie said he had no idea the company was even in trouble until his annual check for $260,000 didn’t show up, as expected, in January.

Read more: https://www.cnn.com/2025/09/16/business/publishers-clearing-house-bankruptcy-winners-lose-prizes