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Check on old company behind confectionery (9)

Ross

I believe the answer is:

chocolate

I'm a little stuck... Click here to teach me more about this clue!

'confectionery' is the definition.
The definition and answer can be both things that one consumes for nourishment as well as being singular nouns.
Maybe they are linked in a way I don't understand?

'check on old company behind' is the wordplay.
'check' becomes 'ch' (abbreviation).
'on' is a charade indicator (letters next to each other) (in a down clue, letters appear on others).
'old' becomes 'o' (abbreviation).
'company' becomes 'co' (abbreviation).
'behind' becomes 'late' (as in behind schedule).
'ch'+'o'+'co'+'late'='CHOCOLATE'

Can you help me to learn more?

(Other definitions for chocolate that I've seen before include "Cacao product" , "Drink (if hot)" , "Addictive (normally) brown substance" , "The tasty treat turns out to be a cool cheat" , "Sweet made with cacao beans" .)

I've seen this clue in The Guardian.
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