Furniture branch the head of company locks (8)
I believe the answer is:
armchair
'furniture' is the definition.
(armchair is a kind of furniture)
'branch the head of company locks' is the wordplay.
'branch' becomes 'arm' ('arm' can be a synonym of 'branch').
'the head of' suggests taking the first letters.
'locks' becomes 'hair' (I've seen this before).
The initial letter of 'company' is 'c'.
'arm'+'c'+'hair'='ARMCHAIR'
(Other definitions for armchair that I've seen before include "Lacking practical expertise" , "Furniture item" , "Amateur" , "Comfy seat" , "Comfortable seat with raised sides" .)