About to squander time in cupboard (6)
I believe the answer is:
closet
'cupboard' is the definition.
(type of cupboard)
'about to squander time' is the wordplay.
'about' becomes 'c' (abbreviation for circa).
'to squander' becomes 'lose' (I've seen this in another clue).
'time' becomes 't' (abbreviation).
'c'+'lose'+'t'='CLOSET'
'in' is the link.
(Other definitions for closet that I've seen before include "secret is revealed" , "Compartment for clothing in the US" , "Shut away in private conference - in small room?" , "Secret - cupboard" , "US press for clothing" .)