The Boy Scouts of America Files for Chapter 11 Bankruptcy @boyscouts

Bsa

The Boy Scouts of America Files for Chapter 11 Bankruptcy

Scouting programs, including unit meetings and activities, council events, other Scouting adventures and countless service projects, will continue throughout this process and for many years to come. The BSA fully intends to maintain its commitments to its members, families, volunteer leaders, employees, retirees, donors and alumni to the fullest extent permitted by bankruptcy laws. The organization also will pay its vendors and partners for all goods and services delivered from today forward. Local councils, which provide programming, financial, facility and administrative support to Scouting units in their communities, have not filed for bankruptcy. They are legally separate, distinct and financially independent from the national organization.

AP – The bankruptcy petition listed the Boy Scouts’ assets as between $1 billion and $10 billion, and its liabilities at $500 million to $1 billion.

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