ALBANY — A national log home kit manufacturer headquartered near Lake George has become the latest victim of the housing slump.

Lincoln Logs filed Friday for Chapter 11 reorganization in U.S. Bankruptcy Court. The Chestertown company is seeking the Albany court’s protection after being hammered by $3.4 million in losses from soured acquisitions, a growing list of delayed orders and higher energy costs.

The 31-year-old company employs 49, mostly in upstate New York, runs a Saratoga County sawmill and 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.

Lincoln Logs’ bankruptcy filing does not specify how deep in debt the company is, but a court statement from Chief Operating Officer Jeff LaPell notes that it owes the Enfield, Conn.-based First Pioneer Farm Credit $2.6 million, mostly stemming from a 2003 revolving credit and loan agreement. The Ballston Spa-based Curtis Lumber is listed as the case’s leading unsecured creditor, at $206,000.

Despite having a backlog of sales orders totaling $26.4 million, LaPell said Lincoln Logs is hurting because of delayed shipments of orders. He blamed that trend on the “staggering economy,” higher mortgage rates and job instabilities. Since spring 2006, sales have declined by 36 percent.

To adjust to the slowing economy, Lincoln Logs has moved to shave $2.1 million off of its overhead by closing unprofitable businesses. Those now-defunct businesses include True Craft Log Homes, which Lincoln Logs acquired for $1.9 million in August 2003, and Snake River Homes, which it bought for $1.2 million in November 2003.

True Craft served Lincoln Logs’ West Coast customers, while Snake River manufactured building packages for Swedish Cope-style homes, according to court documents. Snake River in Rigby, Idaho, also filed for Chapter 11 protection.

In October 2003, Lincoln Logs also acquired the AFI Acquisition Co., a sawmill that sits on 15.6 acres near Saratoga Springs. AFI provides Lincoln Logs with raw materials for its home building kits.

In a statement issued Friday, Lincoln Logs said it plans to honor customer orders and meet its obligations to creditors throughout the reorganization.

“Lincoln is a viable business with outstanding products, loyal customers, a dedicated work force and strong local management. We believe the company has an excellent prospect of working through this process quickly,” LaPell said in a statement.