After trouble, firm invested in kitsch morning wear (8)

'morning wear' is the definition.
(coat worn in the morning)

'after trouble firm invested in kitsch' is the wordplay.
'after' is a charade indicator (letters next to each other).
'trouble' becomes 'ail' (synonyms).
'firm' becomes 'co' (a firm is a company).
'invested in' means one lot of letters goes inside another.
'kitsch' becomes 'tat' (both can mean tasteless or poor-quality items).
'ail' put next to 'co' is 'ailco'.
'ailco' inserted into 'tat' is 'TAILCOAT'.