LAKE GEORGE A national log home package manufacturer headquartered near Lake George became the latest victim of the housing slump today, retreating behind the shield of a bankruptcy court judge.
Lincoln Logs filed for Chapter 11 reorganization in U.S. Bankruptcy Court. The company is seeking the Albany court's protection after getting hammered by $3.4 million in losses from acquisitions dating back to 2003, a growing list of delayed orders and higher energy costs.
The 31-year-old company has more than 80 dealers nationwide, including six in New York.
”Their intention is to continue to operate, not close any doors and not lay anyone off,” said Lincoln Logs attorney Angela Miller.