SALT LAKE CITY — The Boy Scouts of America is considering filing for bankruptcy, The Wall Street Journal reports.

What’s going on: The Boy Scouts, one of the country’s biggest youth organizations, faces a drop in membership and legal costs connected to allegations of sexual abuse, The Wall Street Journal reports.

The organization has hired the law firm Sidley Austin LLP "for assistance with a possible chapter 11 bankruptcy filing," The Wall Street Journal reports.

Filing for bankruptcy "would halt the many lawsuits the organization faces alleging inappropriate conduct by employees," according to CNN.

The BSA has not made an official announcement.

Explore: Chief Scout Executive Mike Surbaugh wrote in a statement on the BSA’s website that the organization is currently "working with experts to explore all options” to keep activities alive.

"To do so in perpetuity, we are working with experts to explore all options available to ensure that the local and national programming of the Boy Scouts of America continues uninterrupted. We have a social and moral responsibility to fairly compensate victims who suffered abuse during their time in Scouting, and we also have an obligation to carry out our mission to serve youth, families and local communities through our programs," Surbaugh wrote.

"We care deeply about all victims of child sex abuse and we are steadfast in our belief that one incident of child abuse is one too many. We sincerely apologize to anyone who was harmed during their time in our programs," he continued.

Flashback: The BSA announced earlier this year that it would drop the word “boy” from its program, becoming “Scouts BSA” beginning in February 2019, The Hill reports. The group hoped this would help expand membership, which has been dropping in recent years.

"We wanted to land on something that evokes the past but also conveys the inclusive nature of the program going forward,” said Surbaugh, according to The Hill. “We’re trying to find the right way to say we’re here for both young men and young women.”

Utah: The Church of Jesus Christ of Latter-day Saints announced back in May that it planned to replace Scouting beginning in 2020 with a new global initiative, the Deseret News reported.