The Boy Scouts of America may file for bankruptcy, the Wall Street Journal reported Wednesday.
Unnamed sources told The Journal, that the organization’s leadership hired law firm Sidley Austin LLP for a potential chapter 11 bankruptcy filing assistance.
Doing so, according to the report, would be a way to pause several lawsuits against the Boy Scouts for alleged inappropriate conduct by employees.
The Boy Scouts released a statement on Wednesday “in anticipation of news reports that will speculate about the BSA’s financial position,” though they didn’t directly address The Journal’s report. It also acknowledged the legal costs of addressing the allegations.
“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,” Chief Scout Executive Michael B. Surbaugh wrote.
Mr. Surbaugh apologized to those who were abused during their time as a Scout and stressed that the organization “always [seeks] to act swiftly” when notified about a potential sexual predator.
“As you all know, we have always taken care of victims — we believe them, 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,” he wrote.
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