The Boy Scouts of America is considering filing for bankruptcy, according to a report by the Wall Street Journal.
Boy Scouts leadership has hired the law firm Sidley Austin LLP for possible chapter 11 bankruptcy filing assistance, the Journal reported Wednesday. Filing for bankruptcy would bring the many lawsuits of alleged inappropriate behavior of Scouts employees the organization is currently facing to a halt.
“We are working with experts to explore all options available to ensure that the local and national programming of the Boy Scout of America continues uninterrupted,” Boy Scouts’ chief scout executive, Michael Surbaugh, said in a statement. “We have an important duty, and an incredible opportunity, to focus as an organization on keeping children safe, supported and protected, and preparing youth for their futures through our nation’s foremost program of character development and values-based leadership training.”
The statement acknowledged sexual assault lawsuits currently open against Scouts employees as well.
“We believe (victims), we believe in fairly compensating them and we have paid for unlimited counseling, by a provider of their choice, regardless of the amount of time that has passed since an instance of abuse,” the statement said.
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