Publishers Clearing House Launches Prize Protection Program After Bankruptcy Drama

Publishers Clearing House's recent bankruptcy filing left winners of the "$5000 a week for life" sweepstakes hanging.

PCH filed for Chapter 11 bankruptcy protection in April 2025, with reported liabilities between $50 million and $100 million, including the promised prizes, CNN reported. Lifetime prize winners were reportedly never made aware of the company’s financial struggles.

The company was purchased by leading mobile and social gaming company ARB Interactive without the agreement to continue paying its “forever” prize winners.

Under new CEO Owen O’Donoghue, however, PCH launched their Prize Protection Program -- a bankruptcy-remote structure ensuring all future sweepstakes payouts are fully secure.

"I am thrilled to join Publishers Clearing House at this pivotal moment," O'Donoghue said. "With the Prize Protection Program, we are combining PCH’s iconic sweepstakes heritage with modern, secure digital experiences, ensuring every winner is protected while introducing mobile-first gaming that excites and engages users nationwide. We believe programs like this represent an industry best practice, and such safeguards should be standard to protect all sweepstakes participants."

While the Prize Protection Program will ensure all future prize winners (beginning with a $1 million prize on Tuesday) will receive their winnings, former winners are stuck in a "nightmare" situation.

"I thought this was going to go on for the rest of my life, so I didn’t really have to worry about money," past winner John Wylie told KGW. "Why didn’t somebody give me a heads up? ‘Hey, we’re going out of business.’ It’s not a good way to treat anyone. Pretty sure I’m going to lose my home."