Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
    • Resolving Business Distress
  • Recruiting
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
    • Resolving Business Distress
  • Recruiting
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

Publishers Clearing House Files for Chapter 11 to Complete Digital Shift, Secures DIP Financing

Sweepstakes and direct marketing company lines up DIP financing from Prestige Capital as it seeks to shed legacy operations and reposition itself as a digital ad-driven entertainment company.

byRita Garwood
April 10, 2025
in News

NEW YORK (April 10, 2025) — Publishers Clearing House (PCH), the iconic sweepstakes and direct marketing company, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York this week, aiming to finalize its transformation into a purely digital, ad-supported entertainment company.

To fund operations during the restructuring process, PCH has secured debtor-in-possession (DIP) financing from Prestige Capital. The company did not disclose the amount of the facility, but said the funding is expected to provide adequate liquidity to support day-to-day operations through the reorganization.

“This DIP facility is essential to ensuring operational continuity while we realign our business for long-term growth,” said CEO Andy Goldberg in a statement. “It gives us the runway to complete our exit from legacy operations and invest in our digital advertising and data-driven consumer engagement model.”

PCH’s bankruptcy filing seeks to shed the costs and liabilities associated with its legacy direct mail, online retail, and magazine subscription lines. The company said it will continue awarding sweepstakes prizes without interruption—a key consumer-facing feature that remains central to its brand identity.

As part of its restructuring strategy, PCH has retained SSG Capital Advisors to explore a potential sale of its digital assets or to bring in a new capital partner. The company is also being advised by Klestadt Winters Jureller Southard & Stevens LLP (legal), Getzler Henrich & Associates LLC (restructuring), and C Street Advisory Group (communications).

PCH said it expects “full continuity” in its digital operations, which include a portfolio of free-to-play games and ad-supported web and mobile experiences.

Additional information for creditors and interested parties is available via Omni Agent Solutions at https://omniagentsolutions.com/PCH.

Previous Post

Trinity Capital Funds $220MM of Investments in Q1

Next Post

Citizens Announces Realignment of Asset-Backed Finance Group

Related Posts

News

Middle Market Debt Weekly: Fed Minutes Point to a December Hike

October 12, 2026
News

Legacy Corporate Lending Names Masci Chief Risk Officer

October 12, 2026
Deal Announcements

Pivot Energy Closes $173MM Term Loan Facility with Bank Syndicate

October 12, 2026
Deal Announcements

Stord Secures $400MM Credit Facility from Citi-Led Bank Syndicate

October 12, 2026
Deal Announcements

X4 Pharmaceuticals Secures Up to $150MM Senior Debt Facility with K2 HealthVentures

October 12, 2026
News

BRG Grows Financial Institution Advisory Practice with Banking Transformation Leader Berbel

October 12, 2026
Next Post
The Middle Market Debt Weekly – March 16, 2025

Citizens Announces Realignment of Asset-Backed Finance Group

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

AI Can Flag the Exception. Only an Examiner Can Explain It.

AI Can Flag the Exception. Only an Examiner Can Explain It.

October 8, 2026

TMA Leading Edge Series with Hannah Robb: Turnaround Talent: Built for Crisis

October 2, 2026

Litigation Finance’s Institutional Inflection Point

October 7, 2026

When the Tariff Bill Lands in the Borrowing Base: ABL Mechanics Under Import-Cost Inflation

September 24, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
    • Resolving Business Distress
  • Magazine
    • Magazine Issues
    • Nominations
  • Molloy Associates
    • Molloy Associates Senior Asset Based Lending Originator Location: Remote
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years