Embarrassed admitting bike is sent for scrap, perhaps (8)
I believe the answer is:
recycled
'sent for scrap perhaps' is the definition.
I can't tell whether this definition defines the answer.
'embarrassed admitting bike' is the wordplay.
'embarrassed' becomes 'red' (someone may blush or go red when embarrassed).
'admitting' indicates putting letters inside (admit can mean to welcome in or accept).
'bike' becomes 'cycle' (synonyms).
'red' enclosing 'cycle' is 'RECYCLED'.
'is' is the link.
Can you help me to learn more?
(Other definitions for recycled that I've seen before include "Fit for use again, then" , "Converted waste material for further use" , "Converted waste material into re-usable form" , "Reused" , "brought back from the junkyard?" .)