Ring lost in bar or beauty parlour (5)
I believe the answer is:
Here is my best explanation:
'beauty parlour' is the definition.
('salon' can be a synonym of 'beauty parlour')
'ring lost in bar' is the subsidiary indication.
'ring' becomes 'o'.
'lost in' is a deletion indicator.
'bar' becomes 'saloon' ('saloon' can be a synonym of 'bar').
'saloon' with 'o' taken away is 'salon'.
'or' is the link.
(Other definitions for salon that I've seen before include "Art gallery", "Loans (anag.)", "Reception room - social gathering", "Loans given to hairdressing establishment", "Hairdresser's shop", "Formal sitting room", "Elegant room - for hairdresser?", "Elegant room is great house for entertaining", "Elegant room for receiving guests" and "Beauty parlour".)