Madison Square Boys & Girls Club files Chapter 11 bankruptcy

By Sarah Lizee

Olympia, Wash., June 29 – Madison Square Boys & Girls Club, Inc. filed Chapter 11 bankruptcy Wednesday in the U.S. Bankruptcy Court for the Southern District of New York.

The company said in its petition that it plans to reorganize so it can continue to fulfill its charitable mission of serving children and families in under-resourced communities.

The company listed $50 million to $100 million in assets and $100 million to $500 million in liabilities.

The company gave a list of its largest unsecured creditors, most of which are law firms with Child Victims Act litigation claims. The amount of the claims was not listed.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is representing the company. Friedman Kaplan Seiler & Adelman LLP is special litigation counsel, Pillsbury Winthrop Shaw Pittman LLP is special insurance counsel, and Teneo Capital, LLC is financial adviser.

The New York-based non-profit after-school program provider filed Chapter 11 bankruptcy under case number 22-10910.

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