France is protecting a company's disaster (6)
I believe the answer is:
fiasco
'disaster' is the definition.
(synonyms)
'france is protecting a company's' is the wordplay.
'france' becomes 'f'.
'protecting' means one lot of letters goes inside another (inserted letters are held or protected).
'company' becomes 'co' (abbreviation).
'is' going around 'a' is 'ias'.
'f'+'ias'+'co'='FIASCO'
(Other definitions for fiasco that I've seen before include "Ridiculous and total failure" , "Complete disaster" , "washout" , "Sudden and complete collapse" , "Embarrassing failure" .)