Crossword Genius

Dad loses out, a complete failure (4,4)

Ross

I believe the answer is:

dead loss

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'a complete failure' is the definition.
I know nothing about this answer so I can't judge whether this works.

'dad loses out' is the wordplay.
'out' is an anagram indicator (out can mean wrong or inaccurate).
'dad'+'loses'='dadloses'
'dadloses' with letters rearranged gives 'DEAD LOSS'.

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(Other definitions for dead loss that I've seen before include "write-off" , "unprofitable" , "Dud" , "Totally useless item" , "Useless person or thing - sounds moribund and profitless" .)

I've seen this clue in The Times.
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