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.
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.
