This company was in the red at one point, but they received government subsidies which helped restore their operations.
この場合、次のような言い方ができますよ。
ーThis company was in the red at one point, but they received government subsidies which helped restore their operations.
「この会社は一時期赤字に陥ったが、政府から補助金をもらい経営を立て直した」
to be in the red で「赤字に陥る」
subsidies で「助成金・補助金」
to restore one's operations で「経営を立て直す」
ご参考まで!