We told you so: Boy Scouts of America may declare bankruptcy
The New York Post reports:
The Boy Scouts of America is mulling declaring bankruptcy amid flagging membership and an avalanche of costly sex abuse allegations, according to the Wall Street Journal.
Leaders have hired Chicago law firm Sidley Austin for help in a potential Chapter 11 bankruptcy filing, sources told the outlet.
The organization has been fending off lawsuits over alleged abuse, including one filed by four former scouts who called the club a "pedophile magnet" and alleged that they were molested by scoutmaster Waldron Ackerman between 1974 and 1976.
The organization has reportedly lost two-thirds of its members - some 4 million boys - since the 1970s.