Operating at a loss (2,3,3)
I believe the answer is:
in the red
'operating at a loss' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for in the red that I've seen before include "Broke" , "Owing money, bank account overdrawn" , "Flashing lamp" , "needing cash injection" , "Colourfully in debt to the bank" .)