in the red

From the standard accounting practice of using red ink to denote negative values, especially a net loss. The first known written use of the phrase is from the "Wise-crack dictionary" (1926) by George H. Maines and Bruce Grant.

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in the red

1. (idiomatic, accounting) Having net losses; in debt.

   The figures are going to be in the red this year.

• in the hole

• in the black

• nithered