(CNN) The Boy Scouts of America has filed for bankruptcy, according to a court document filed in Delaware bankruptcy court early Tuesday.
The bankruptcy filing comes at a time when the organization faces hundreds of sexual abuse lawsuits, thousands of alleged abuse victims and dwindling membership numbers.
Paul Mones, a Los Angeles-based attorney representing "hundreds of sexual abuse victims in individual lawsuits," called the organization's bankruptcy filing a "tragedy.".
The Boy Scouts of America was fielding several hundred sexual abuse lawsuits.
The Boy Scouts of America faced hundreds of lawsuits from alleged sexual abuse victims across the country -- all of which are now suspended because of the bankruptcy filing.
It is the Boy Scouts of America (BSA) policy that all incidents of suspected abuse are reported to law enforcement," the organization said.
The Boy Scouts of America also named a new president , a former Scout himself who pledged to "move the organization forward.". »