In the red

Meaning:

If we are in the red, we owe money. This expression can be used with individuals or with companies. It often refers to owing money to a bank. Contrast with in the black.

Example sentences:

1. We are in the red.
2. My bank account is in the red.
3. This will put us in the red.

Example dialogue:

A: You started a new business a while ago, didn't you?
B: Yes, that's right. We opened a restaurant.
A: Great. How's business?
B: Well, we're in the red now but hope to be making money soon.

Practice:

Is your bank account in the red?

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"bank account is in the red"
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