Publishers Clearing House Liquidation Plan Approved After Sale

The sweepstakes and marketing company formerly known as Publishers Clearing House LLC won bankruptcy court approval of a liquidation plan that will likely pay its remaining prize winners just pennies on the dollar.

Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York at a Monday hearing said he will approve the plan, which hands control of the liquidation and wind-down administration to an attorney representing the company’s unsecured creditors. committee.

“I’m glad we’re able to dispose of this very quickly,” Glenn said. The hearing was uncontested.

Publisher’s Clearing House started in 1953 as a ...