Boy Scouts of America looks to bankruptcy as membership falls, lawsuits mount

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Age: 31
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The Boy Scouts of America is considering filing for bankruptcy protection as it faces declining membership and rising legal costs related to lawsuits over how it handled sexual assault allegations.

Leaders of the Boy Scouts, one of the nation's largest youth organizations, have hired the law firm Sidley Austin LLP to help with a possible chapter 11 bankruptcy, according to people familiar with the matter.

Founded in 1910, the Boy Scouts of America claims that more than 110 million people have participated in its educational programs that promote outdoor skills, character building, and leadership.

The Boy Scouts has been at the center of sexual abuse scandals in the past, and the organization has faced a number of lawsuits alleging inappropriate behavior by employees or volunteers in incidents dating back to the 1960s. Filing for bankruptcy will stop the lawsuit and give the nonprofit the opportunity to negotiate with the victims who filed the lawsuit.

Posted 20 Apr 2021

avalonstar says
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Posted 20 Apr 2021

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Posted 20 May 2021

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Posted 23 May 2021

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