Harlow & Jones
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| Industry | Steel |
|---|---|
| Founded | 1914 |
| Headquarters | London, United Kingdom |
Harlow & Jones Ltd. was a London-based steel and metals trading company that failed in 1989.
Founded in 1914 as a currency trader, H&J moved into steel after the Second World War.
H&J came close to bankruptcy in the economic downturn of early 1980s, when it slimmed down from around 100 employees to about 30. After failed takeover negotiations with another London trader, Amari, H&J's October 1982 move to 99 Kensington High Street (4th floor) coincided with a revival in its fortunes as UK and international demand for steel improved through the 1980s.
After the failed takeover, H&J began specializing in importing steel to the UK from Eastern Europe, and to a lesser extent, Latin America and Western Europe. It was also active in the international bulk trade.
The company was owned by Gerald Panchaud, former owner of the Mar Lodge Estate in Scotland. He sold out to the H&J management in 1988, during which H&J's working capital shrank from £2 million to £500,000. In 1989, two particular trades heralded the onset of the early 1990s recession. First, a cargo of rebar from shipped from Argentina to the UK suddenly became hard to sell, and second, a cargo of Indian steel won by tender and shipped to the USA was similarly becalmed by falling demand.
