Charlie, falling behind, finally cries when shops close (7,5)
I believe the answer is:
closing times
'when shops close' is the definition.
(times at which shops close)
'charlie falling behind finally cries' is the wordplay.
'charlie' becomes 'c' (phonetic alphabet: alpha, bravo, charlie etc.).
'falling behind' becomes 'losing time' (falling behind schedule).
'finally' indicates one should take the final letters.
The last letter of 'cries' is 's'.
'c'+'losingtime'+'s'='CLOSING TIMES'
(Other definitions for closing times that I've seen before include "Folding up the paper" , "when the bars pack up" .)