USA Gymnastics Files For Chapter 11 Bankruptcy

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Updated at 5:58 p.m. ET USA Gymnastics, the sport's national governing body, said today that it had voluntarily filed for Chapter 11 bankruptcy. Board of Directors Chair Kathryn Carson, who joined the newly restructured board in June, said in a statement that bankruptcy will allow USA Gymnastics to "expedite resolution of claims" against it from survivors of sexual abuse by former team doctor Larry Nassar. She said the organization will continue to operate normally and that it is not having trouble paying its bills. But while USA Gymnastics says bankruptcy gives it "the opportunity to reorganize," it's not clear how the filing is helpful to the victims and other athletes. In an online post about the bankruptcy filing, USA Gymnastics said that...

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USA Gymnastics Files For Chapter 11 Bankruptcy

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