INDIANAPOLIS — USA Gymnastics has filed for Chapter 11 Bankruptcy.
The governing body filed the petition Wednesday in Indianapolis, where it is based.
USA Gymnastics is dealing with the fallout from a sex abuse scandal involving former team physician, Dr. Larry Nassar.
Nassar was convicted of sexual misconduct and sentenced to 175 years in prison in January.
More than 100 lawsuits have been filed against by more than 350 athletes who allege USA Gymnastics failed to protect them from Nassar and even helped cover up the abuse.
The Nassar scandal and its related lawsuits have put the future of USA Gymnastics in doubt.
The US Olympic Committee moved Nov. 5 to strip USA Gymnastics of its status as a national governing body. USOC CEO Sarah Hirshland said the challenges facing the organization were “more than it was capable of overcoming.”
(Photo by Jared Wickerham/Getty Images)
