Huge deficit borne by firm at Leicester initially (8)
I believe the answer is:
colossal
'huge' is the definition.
(I know that huge can be written as colossal)
'deficit borne by firm at leicester initially' is the wordplay.
'deficit' becomes 'loss' (I've seen this before).
'borne by' means one lot of letters goes inside another (to bear can mean to carry).
'firm' becomes 'co' (a firm is a company).
'initially' says to take the initial letters.
The initial letters of 'at leicester' is 'al'.
'co'+'al'='coal'
'loss' placed inside 'coal' is 'COLOSSAL'.
(Other definitions for colossal that I've seen before include "Giant" , "Great" , "Very big" , "Huge, immense" , "Stupendous" .)