Fine cut was a failure (7)
I believe the answer is:
flopped
'was a failure' is the definition.
I can't tell whether this definition defines the answer.
'fine cut' is the wordplay.
I cannot quite see how this works, but
'fine' could be 'f' (abbreviation) and 'f' is located in the answer.
'cut' could be 'lopped' (I've seen this in another clue) and 'lopped' is located in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Another definition for flopped that I've seen is " Failed".)