Cameron Hall, the family company founded by former MetroCentre and Newcastle United boss Sir John Hall, has been struggling under millions of pounds of debt, new figures show. Just-released accounts also reveal that Sir John's son, Douglas, who took over the company after his father retired, was awarded a huge pay rise despite Cameron Hall's grim trading situation. Accounts filed six months late at Companies House reveal that Cameron Hall, which is a property development business and also holds shares in Newcastle United, made a pre-tax loss of £74.7m during 2000. But during that time, Douglas Hall, the firm's chairman and also an executive director at Newcastle United, increased his salary from £78,000 to £327,000. He was also paid £250,000 by the business for the use of part of the Hall family home, Wynyard Hall - which has now been put up for sale for £8m - as offices. The accounts show the company struggled with massive losses and £40m debts due to falling property prices and Newcastle United's falling share price. The business - which developed and subsequently sold Gateshead's MetroCentre - was forced to sell off tracts of land it was hoping to develop, leaving a £53.8m hole in the balance sheet. Meanwhile Mr Hall ran a personal expense account that at one point was £667,414 in the red, although that debt was reduced to £22,000 by the end of the year. And Mr Hall also struck a deal to buy five cars from Cameron Hall with the company recording a loss of £58,000 on the deal. It then bought one of the cars back from Mr Hall for £200,000. In a directors' report attached to the accounts, Mr Hall said Cameron Hall had undergone an internal review to work out ways of reducing the company's heavy debts. He adds: "As a result of this review and the general poor market conditions for property development, the directors decided to embark upon a programme of reducing borrowings substantially by discreetly marketing properties rather than holding them for development." Mr Hall said the sell-off policy had been successful and would continue to be pursued. The accounts also reveal that Cameron Hall had to borrow almost £19m in cash and £16m in loans from a Hall family trust. In return for cash the trust was given shares in Newcastle United as security, but the share price dropped dramatically and Cameron Hall has now recorded the loan as an additional loss on its balance sheet. The figures reveal that Cameron Hall's assets stood at £12.2m in November 2000, a big drop on 1999's £70.8m figure. Last week, it was revealed that the Hall family home at Wynyard, near Stockton, would be put on the market for £8m. But the public relations firm advising Mr Hall says the sale has nothing to do with Cameron Hall's heavy debts. Mr Hall could not be reached for comment yesterday. Cameron Hall faces a fine of up to £1,000 from Companies House for missing the deadline for filing its accounts. | 
