After existing for more than a century, Boy Scouts of America files for bankruptcy

In this July 22, 2013, file photo, Andrew Garrison, 11, of Salt Lake City, looks over the Rockwell exhibition at the Mormon Church History Museum in Salt Lake City, Utah. | Associated Press file photo by Rick Bowmer, St. George News

SALT LAKE CITY — The Boy Scouts of America has filed for Chapter 11 bankruptcy.

This bankruptcy protection has been in the works for a while, and according to a report from Fox13Now, it allows the national organization to keep operating as they try to negotiate settlements in hundreds of sexual abuse lawsuits.

This move will allow them to create a trust to fairly compensate abuse victims in an effort to keep the 110-year old organization afloat.

The group filed in a Delaware federal bankruptcy court. Their liabilities ranged between $100-million and $500-million.

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