The Boy Scouts of America filed for federal bankruptcy protection Tuesday after hundreds of lawsuits were filed accusing scoutmasters and other leaders of sex abuse decades ago. 

The National Chair of the Boy Scouts posted an open letter apologizing to anyone who was harmed, saying "I am sorry. I am devastated that there were times in the past when we failed the very children we were supposed to protect.”

He says the reason for the Chapter 11 filing is to restructure their debt to allow the organization to compensate victims. He says in part, "We believe you, we believe in compensating you..."

Boston attorney Mitch Garabedian represents dozens of men who say they were abused as Scouts. He says the main reason the Boy Scouts filed for bankruptcy was so they could remain in business.

“But they can only remain in business at a cost,” says Garabedian. “That cost is to reveal their assets, to compensate victims. And it provides the opportunity to find the truth out here.”

News 12 reached out to Boy Scout councils on Long Island about how they would be affected. They say they are not part of the bankruptcy filing and that each council is a separate and independent organization and that there will be no change to local Scouting experience.

More information about the bankruptcy filing and the Boy Scouts restructuring plan can be found here.