OUR TRACK RECORD SPEAKS FOR ITSELF.
For more than a decade, we’ve created successful results in the complex restructurings of hundreds of companies, large and small.
Engagements include financial advisory, interim management, litigation support, asset valuation, and creating alternative channels for recovery and growth.
Today's Commentary From Our TeamServices
Corporate Recovery
Gavin/Solmonese has extensive experience in advising companies and their stakeholders through operational and financial challenges, restructurings, reorganizations, and strategic optimization. Read More
Corporate & Nonprofit Engagement
Organizations benefit when they understand themselves and how they are perceived in the marketplace. We engage with for profit and nonprofit organizations, and lead them through the process of optimizing public sentiment around their issues. We make healthy companies better citizens. Read More
Recognition
What We've Been Up To
- AIRA 23rd Annual Advanced Restructuring and POR Conference, New York, NY
- ABI International North American Insolvency Program, New York, NY
- TMA Annual, Puttshack, Philadelphia, PA
- National Conference of Bankruptcy Judges, Seattle, WA
- ABI International Latin America Symposium
- Mexico City Metropolitan Cathedral, Mexico City
- Riffs for Remission, Philadelphia, PA
- Leukemia & Lymphoma Society Visionary of the Year, Minneapolis, MN
- ABI 2024 Annual Spring Meeting, Washington, D.C.
- Eastern District of Penn. Bankruptcy Conference’s 34th Annual Forum, Atlantic City, NJ
- IWIRC at the Shore, Atlantic City, NJ
Publishers Clearing House Files for Bankruptcy—and the Prize May Be Gone
By Ted Gavin, CTP, NCPM, Managing Director & Founding Partner
It’s not every day that a bankruptcy filing feels like the punchline to a bad joke — but here we are.
Publishers Clearing House, the sweepstakes giant famous for surprise checks and balloons at your front door, has filed for Chapter 11. And the real twist? Some of the folks who thought they “won for life” might not see another dime.
Turns out, many prizewinners opted for annuity payments instead of the lump sum—and those annuities are now just another line on the creditor list.
There’s a serious lesson here, especially for industries that rely on long-term payout promises: if the underlying business model weakens, even a “guaranteed” prize isn’t guaranteed. And for consumers, it’s a reminder to always read the fine print.
This one’s about more than nostalgia and novelty checks. It raises questions about how we treat winners, structure obligations, and assess long-term risk in promotional-driven businesses. Could this have been prevented? What exposure do similar models carry? And, honestly, I was surprised to learn that Publisher’s Clearing House was even still a thing.
