The Boy Scouts of America officially filed for Chapter 11 bankruptcy overnight.
It's a sign of the 110-year-old organization's financial instability as it faces hundreds of lawsuits from men who say Scout leaders sexually abused them when they were boys.
The Scouts had been looking into the possibility of bankruptcy for more than a year. The organization's legal exposure has ramped up since a number of states changed their laws to give sexual abuse victims more time to sue their abusers.
Those changes have opened avenues to sue for those who had been blocked by statutes of limitations.