Boy Scouts Of America Considering Declaring Bankruptcy

boy-scouts-scouting-vintage-cropped
boy-scouts-scouting-vintage-cropped

(Irving, TX) — The Boy Scouts of America is considering filing for bankruptcy because of sexual abuse lawsuits filed against the organization.

The Wall Street Journal reports the organization sent a letter to its employees saying it would explore all options in keeping the youth group going.  The Irving based organization says it’s seen a significant drop in membership from its high in the 1970s.  Last year BSA spent more than $7.6 million dollars on lawyers, because of its ongoing legal battles.

The Journal reports the Boy Scouts have hired a Chapter 11 bankruptcy firm as it considers future steps.