Bad news about party supplies (6)
I believe the answer is:
endows
'supplies' is the definition.
'bad news about party' is the wordplay.
'bad' indicates anagramming the letters.
'about' is an insertion indicator.
'party' becomes 'do' (do is a kind of party).
'news' with letters rearranged gives 'enws'.
'enws' going around 'do' is 'ENDOWS'.
(Other definitions for endows that I've seen before include "Bequeaths" , "Gives" , "Snowed (anag.)" , "Provides with income, being snowed under" , "Establishes (post/prize) by donating funds" .)