I would give it a few more washes and rinses -
Sometimes it does take several dunkings before the water runs clear.
Can you go through your receipts and try to figure out which shop you bought it from?
In my opinion, fabrics that bleed after several washings are defective and should be returned (or at least try to return them)
Other colors than red can also be bleeders- yellow - an intense one - a Moda marble - the red, green, and brown from the same line/group were fine!!! - an orange, a green, a blue, a turquoise, a purple, a black
It's not often that I get a stinker - just often enough to 'never assume'
What is even more aggravating - I had washed a royal blue and a dark red - water was fine - then I used starch or sizing on it - and then they bled!!!!! I think they were RJR fabrics (maybe 15 years ago now)
The Moda red that spilled color was only about two years old.
I've had VIP/Cranston reds leave the water absolutely clear - so I do not go by brand or price point.
I can deal with excess dye that washes out in a couple of dunkings. I mind - A LOT - fabric that won't stop bleeding.
It makes as much sense to me to have to treat commercially dyed fabrics with Retayne or Synthrapol as it does to have to paint a new car after I buy it.
(I know - I've used that line before - I haven't come up with a better one yet)
It the fabric is truly a stinker - I discard it - like shred it and put it in the trash. I don't want me to accidentally use it or anyone else to get stuck with it.