Episode 2 of "Black Rabbit" kicks off with a flashback to the restaurant's inception. We discover that Wes is a singer, while Jake serves as his manager following Wes's ill-fated tenure in a punk rock band alongside Vince. It's Vince who stumbles upon the restaurant and envisions what "Black Rabbit" will eventually become. He's eager to embark on this venture with Jake, who readily agrees. However, lacking the necessary capital, they're compelled to rope in Wes as an investor.
Fast forward to the present, and the New York Times critic has just delivered a rave review. As the staff revels in their success, Jake confides in Estelle, his interior decorator, and Roxie about his ambitious plans to open a second restaurant at the Pool Room in the Four Seasons. He envisions this new venture as solely his, excluding both Vince and Wes from the equation. It becomes apparent that Jake harbors genuine feelings for Estelle, and they share an intimate moment as he implores her to take charge of the Pool Room project.
Meanwhile, Vince pays a visit to Gen, his daughter and the tattoo artist from the other night. She's initially upset but gradually warms up to him when he reveals his intention to stick around.
Unfortunately, the situation takes a downturn when the realtor informs them that the potential buyers intend to slash their offer due to a violation. This is the sole offer the brothers have received, and even after paying off Vince's mortgage loan, they won't break even. Vince panics, as he desperately needs the money to settle his debts with loan sharks. Surprisingly, even Jake is left reeling, as he requires seed money for the Pool Room project.
To compound their woes, Anna takes to TikTok to defame Jake and Roxie, causing Jake to avoid her and leaving him flustered. He's forced to postpone an investor meeting for the Pool Room as a result.
In the midst of this chaos, Vince goes around seeking help, first approaching Mattie and then Wes. Wes takes offense, while Mattie proposes an illegal gambling operation as a solution.
Simultaneously, Wes catches wind of the Pool Room project and tries to persuade Estelle to decline it. He claims she's already swamped with designing their house and also wants her to serve as eye candy for his PR events.
Two weeks have slipped by, and the loan sharks are growing restless, their anxiety mounting as Vince fails to show up with the promised money. We discover that Junior is attempting to carve out his own path in the underworld, with Vince being one of his inaugural clients. His father, Mancuso, is well-acquainted with the Friedkens and had cautioned Junior against conducting business with Vince. The second loan shark, Babbitt, was entrusted with the task of keeping Junior in line.
Meanwhile, Jake is scrambling to secure funds, reaching out to his wealthy ex-girlfriend, Val, in hopes of an investment. However, it appears that Val has frequently bailed Jake out of his failed ventures in the past, and this time, she stands her ground and refuses. Additionally, Wes has neglected to settle his tab for a month now. When Jake politely requests payment, Wes takes offense, bringing up the Pool Room and questioning whether Jake has his sights set on Estelle.
Jake, preoccupied with more pressing matters, has little patience for Wes's drama as Junior suddenly arrives at the restaurant. Their exchange is tense, and Jake learns of Vince's mounting debt. But just as the conversation heats up, Junior abruptly leaves upon receiving an alert about illegal gambling activities.
Elsewhere, Estelle is furious that Wes rejected the Pool Room project on her behalf without her consent. She takes matters into her own hands, secretly informing Jake that she will design the restaurant, much to his delight.
Vince, on the verge of earning a hefty sum of 150 grand, suffers a devastating loss. He makes a desperate dash for safety when Junior and his crew arrive. However, the loan sharks are swift, catching up to Vince and severing his finger as a gruesome warning. They threaten further harm to Gen if their demands aren't met and then depart.
Finally, Vince turns to Jake, pouring out his heart and confessing everything. It is revealed that Julius Randle had fueled Vince's gambling addiction, and Vince had taken out multiple loans before vanishing from New York City. Unfortunately, Jake finds himself in a similar predicament—broke and unable to assist. Lost and desperate, Vince contemplates suicide, but Jake intervenes, stopping him in his tracks. Though Jake is upset, he vows to handle the situation.
In a separate development, Roxie finally comes face-to-face with Anna, who unveils a harrowing tale. She reveals that a VIP customer named Jules had drugged and raped her. Furthermore, Jules had also molested Tanya, another staff member, and Jake had failed to take the matter seriously. Anna calls out Roxie, highlighting that the head chef is well aware of the consequences when VIP customers become overly handsy—a reason behind Anna's online outburst. Roxie offers her apologies and assistance, but Anna insists it's too late for redemption.
At the climax of Black Rabbit Episode 2, Jake meets with Mancuso, who expresses sympathy for his plight. Junior, however, is visibly displeased as he translates his father's words, disparaging the incompetence of family members. Mancuso extends an offer—20 grand a week. But he warns that if Jake is late by even a single day, the restaurant will be seized.
