Friend trimmed old fabric (5)
I believe the answer is:
chino
'fabric' is the definition.
(I know that chino is a type of fabric)
'friend trimmed old' is the wordplay.
'friend' becomes 'china' (cockney rhyming slang, mate is china plate).
'trimmed' means to remove the last letter (the final letter is trimmed off).
'old' becomes 'o' (abbreviation as in OT - Old Testament).
'china' with its final letter removed is 'chin'.
'chin'+'o'='CHINO'
(Other definitions for chino that I've seen before include "American material" , "Coarse cotton khaki-coloured fabric" , "Cotton textile material" , "Type of fabric" , "Twilled cotton cloth" .)