Crossword Genius

Is Dad committing theft, or losing it? (9)

Ross

I believe the answer is:

panicking

I'm a little stuck... Click here to teach me more about this clue!

'losing it?' is the definition.
The definition and answer can be both to do with human feelings as well as being present participle verbs.
Maybe they are linked in a way I don't understand?

'is dad committing theft' is the wordplay.
'is dad' becomes 'pa' (both can mean one's father).
'committing theft' becomes 'nicking' (I can't justify this - if you can you should believe this answer much more).
'pa'+'nicking'='PANICKING'

'or' is the link.

Can you help me to learn more?

(Other definitions for panicking that I've seen before include "Losing one's head" , "Acting rashly through fear" .)

I've seen this clue in the Sydney Morning Herald.
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