As if alternative company could be a complete disaster (6)
I believe the answer is:
fiasco
'a complete disaster' is the definition.
(I've seen this before)
'as if alternative company' is the wordplay.
'alternative' is an anagram indicator.
'company' becomes 'co' (abbreviation).
'as'+'if'='asif'
'asif' with letters rearranged gives 'fias'.
'fias'+'co'='FIASCO'
'could be' is the link.
(Other definitions for fiasco that I've seen before include "An absolute mess, what a farce" , "Humiliating disaster" , "An utter mess or cock-up" , "Sudden total disaster" , "Sudden and complete collapse" .)