Alex Torme is haunted by the brutal Christmas Eve murder of his parents, a trauma that began when he was a child and left him with recurring nightmares. The killer, Norman Perkins, a wealthy business associate of his father, shot his parents to death during a bitter dispute, all while wearing a chilling fox-face mask made from a fox pelt. Perkins then turned the gun on himself, leaving a trail of fear that still shadows Alex as he grows up.
As an aspiring writer, Alex Torme finds himself pressured by his brother, Jack Torme, who has taken over the family business and wants Alex to join him. Into this tense dynamic steps Maggie Kallir, a young dance student from New York City, with whom Alex begins a tentative romance. The unsettling mood intensifies when Alex discovers a fox mask in his friend Danny’s house, prompting him to believe that Danny might be impersonating Perkins to torment him. This suspicion strains their friendship, and Alex reluctantly withdraws from Danny.
During a family dinner at his parents’ estate, where John Torme resides, Jack probes Maggie about her past and catches her in a lie about working for a non-existent New York dance company. He publicly brands her a gold digger, a move meant to undermine Alex just as he stands to inherit a substantial portion of the family business. The atmosphere turns even more surreal when Alex finds a butchered deer left in his bathtub, an eerie incident that vanishes when he reports it, leaving him doubting his own sanity. Maggie and Danny try to soothe him, but Alex accuses Danny of planting the deer, a charge that further frays their bond.
As the weeks pass, Maggie visits Jack, and the pair engage in a passionate affair. It becomes clear they are conspiring to push Alex toward a breaking point, manipulating his fears and insecurities for their own reasons. Meanwhile, Danny grows suspicious of Maggie and secretly returns to her apartment, discovering a photo album filled with pictures of Maggie with Jack, along with clippings about the murder of Alex and Jack’s parents. When Danny confronts Maggie, she ejects him, and in a brutal turn, Maggie and Jack murder Danny with a rifle and stage it as a suicide.
On Alex’s birthday, Maggie lures him to their remote family cabin where a drunken Jack waits. Jack admits his resentment toward Alex for not devoting himself to the family business and for the inheritance that awaits him regardless of his own involvement. A fox-masked hitman—hired by Jack—hunts Alex through the woods, wounding him in the shoulder. Slipping into a desperate moment, Alex collapses on a road just as Maggie’s car approaches. The hitman then lifts Alex onto the car hood and slits his throat, while Maggie watches with a chilling, unreadable calm.
Days pass, and Christmas brings a final, unsettling mood shift. Jack experiences a nightmare in which Alex lies dead in the morgue and rises to attack him. As Maggie consoles Jack with a drink, an unseen assailant quietly enters the bedroom and murders Jack. In a closing, bleak coda, Maggie phones her mother to leave a message that her father, Norman Perkins, can finally “rest in peace,” sealing a conclusion in which the past crimes are finally allowed to end, only through more treachery and bloodshed.
