Bed and breakfast's closing after business (3)
I believe the answer is:
cot
'bed' is the definition.
(cot is a type of bed)
'breakfast's closing after business' is the wordplay.
'closing' indicates one should take the final letters (the letter which ends or closes the word).
'after' is a charade indicator (letters next to each other).
'business' becomes 'co' (short for company).
The last letter of 'breakfast' is 't'.
't' after 'co' is 'COT'.
'and' acts as a link.
(Other definitions for cot that I've seen before include "Small bed with high sides" , "Folding bed - fingerstall" , "Crib" , "Function" , "baby carrier?" .)