Be in the red
Definition 1 of 1
Pro Tip 1/3Financial Trouble
Indicates a company or person is losing money and facing financial stress. 
Our bakery has been in the red since the new grocery store opened.
Pro Tip 2/3Not Bankruptcy
'In the red' means having debt, but not necessarily bankrupt or closed. 
Despite being in the red, the tech startup continued to operate.
Pro Tip 3/3Color Imagery
Red is often associated with danger or deficits in finance, hence the expression. 
The ledger is full of red entries; we're in the red again this month.