Boy Scouts Bankruptcy

On February 18, the Boy Scouts of America filed for bankruptcy. The Boy Scouts of America declared their bankruptcy just after their 110th anniversary.

The nonprofit organization is one of the largest youth organizations in the United States and has an estimated two million active members and over one hundred million members in its whole history. The Boy Scouts is a group for young boys who learn things such as reading a compass, tying knots, and setting up a tent. The scouts stretch across the United States, Japan, and all over Europe. 

The BSA faces as many as three hundred sexual abuse lawsuits amidst filing for Chapter 11 bankruptcy in order to provide compensation for it’s victims. Chapter 11 bankruptcy is a type of bankruptcy that is the reorganization of a debtor’s business affairs, debts, and assets. They are still going to try and find a way to continue their organization. They are reorganizing to make activities more localized as well as making structural changes to the larger organization. 

The BSA has a long history of problems with reports of abuse dating as far back as the 1960’s. Many more victims are now stepping forward as the news breaks. These reports are aimed at scoutmasters, troop leaders, and other scouts for easily gaining trust and manipulating the scouts into inappropriate acts.

Even as more reports of abuse are revealed, many local scout units are still operating.