Hanging records go! (8)
I believe the answer is:
tapestry
'hanging' is the definition.
(tapestry is a kind of hanging)
'records go' is the wordplay.
'records' becomes 'tapes' ('tape' can be a synonym of 'record').
'go' becomes 'try' (I've seen this before).
'tapes'+'try'='TAPESTRY'
(Other definitions for tapestry that I've seen before include "Woven hanging fabric with pictures" , "Woven wall-hanging" , "Embroidered wall hanging" , "Ornamental textile" , "As pretty as woven material with design" .)