John Wyllie, a 61-year-old man from Oregon, secured a lifetime annual salary of £190,000 by winning a lottery jackpot. The money was granted by PCH Prize Patrol in 2012, awarding him $5,000 (£3,687) every week for life. This resulted in an impressive annual payout of $260,000 (£191,738.30) received every January, allowing him to retire comfortably and purchase a property with six acres in Bellingham, Washington.
The company, Publishers Clearing House (PCH), which had a history of offering various prizes, including long-term weekly payments, declared bankruptcy earlier this year without prior notification to John or other winners. This sudden turn of events has left John facing financial uncertainty, especially since he has struggled to find employment after being out of the workforce for over a decade. Consequently, he has had to sell his trailer and jet ski, and may even be forced to sell his home.
Former senior vice president at PCH, Darrell Lester, expressed deep frustration at the collapse of the company, emphasizing the impact on previous winners like John. John explained that during his time at PCH, the company maintained funds through strategic long-term investments to support winners’ payouts. However, the responsibility to honor past winners’ payouts falls outside the obligations of the new company that acquired PCH, ARB Interactive.
Post-pandemic challenges significantly affected PCH, leading to a sharp decline in annual revenue from $900 million (£663.71 million) to just over $180 million (£132.74 million) before filing for Chapter 11 protection in April. Despite the financial turmoil, ARB Interactive, the new owner of PCH, aims to rebuild the brand’s reputation for trust and integrity, assuring that all future winners will receive their prizes in full.