Finishes up and pulls on funny-looking coat when they don't win (5,2,1,5)
I believe the answer is:
draws to a close
'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".)