Publishers Clearing House (PCH) winners are facing an end to promised “forever” money due to the company’s bankruptcy filing in April. ARB Interactive purchased PCH assets for $7.1 million, creating PCH Digital. ARB will not pay out prizes issued before July 15, leaving past winners disappointed.

PCH did not comment on the situation. The number of past winners affected by the bankruptcy is unclear, but 10 unidentified prize winners were listed as creditors with large claims. One past winner did not receive his annual check, causing financial strain.

PCH, founded in 1953, grew from magazine subscriptions to money sweepstakes and merchandise sales. Despite surprising winners with oversized checks, the company faced financial strain. Recent regulatory scrutiny and legal settlements impacted PCH’s operations and transition to a digital advertising model.

Read more at Yahoo Finance: Amid bankruptcy, some Publishers Clearing House winners are facing the end of ‘forever’ prizes