Boy Scouts of America may file for bankruptcy protection amid sex-abuse lawsuits
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(FOX Business) - The Boy Scouts of America is considering filing for bankruptcy protection.
The organization is facing a shrinking membership and escalating legal costs related to lawsuits over how it handled allegations of sex abuse.
Leaders of the Boy Scouts, one of the country’s largest youth organizations, have hired law firm Sidley Austin LLP for assistance with a possible chapter 11 bankruptcy filing, according to the Wall Street Journal.
More than 110 million people have participated in its educational programs, which promote outdoors skills, character-building and leadership, since its founding in 1910.