Everybody gathering around closed part of the Maldives (5)
I believe the answer is:
atoll
'part of the maldives' is the definition.
(I've seen this in another clue)
'everybody gathering around closed' is the wordplay.
'everybody' becomes 'all' (all people).
'gathering around' is an insertion indicator.
'closed' becomes 'to' (as in a door closed to).
'all' placed around 'to' is 'ATOLL'.
(Other definitions for atoll that I've seen before include "Circular coral reef" , "Bikini for one" , "Allot (anag.)" , "Pacific coral island" , "Land around a lagoon, such as Bikini" .)