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Finishes up and pulls on funny-looking coat when they don't win (5,2,1,5)

Ross

I believe the answer is:

draws to a close

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'funny-looking coat when they don't win' is the definition.
I know nothing about this answer so I can't judge whether this works.

'finishes up and pulls on' is the wordplay.
'finishes up' becomes 'aclose' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'and' says to put letters next to each other.
'pulls' becomes 'draws' ('draw' can be a synonym of 'pull').
'on' becomes 'to'.
'draws'+'to'='drawsto'
'aclose' put after 'drawsto' is 'DRAWS TO A CLOSE'.

Can you help me to learn more?

(Another definition for draws to a close that I've seen is " Ends".)

I've seen this clue in The Irish Times.
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