Company tore up arrangement (6)
I believe the answer is:
troupe
'company' is the definition.
('troupe' can be a synonym of 'company')
'tore up arrangement' is the wordplay.
'arrangement' indicates an anagram.
'tore'+'up'='toreup'
'toreup' anagrammed gives 'TROUPE'.
(Other definitions for troupe that I've seen before include "Theatre company" , "Travelling company of actors" , "Performing company" , "Acting company" , "travelling band" .)