Boy Scouts consider filing for bankruptcy

The Boy Scouts of America is considering filing for bankruptcy as it faces lawsuits over sexual abuse allegations.

The Boy Scouts have a history that dates back more than a century. More than 110 million people have participated over the years in programs that promote outdoor skills, character building and leadership.

But these are challenging times for the iconic organization. The Wall Street Journal reports the Scouts are considering filing for Chapter 11 bankruptcy amid a number of sexual abuse lawsuits. A law firm reportedly has been hired to work on this possible filing.

The Journal reports the lawsuits date back as far as the 1960s, alleging inappropriate contact – contact by employees or volunteers. Declaring bankruptcy would allow the Boys Scouts of America to stop litigation and settle for amounts it could better afford.

The Boy Scouts released a letter to employees Wednesday saying it plans to explore all options to make sure its local and national programming will continue uninterrupted.