Losing little time, help one place in Italy (6)

I believe the answer is:

assisi

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'place in italy' is the definition.

I can't explain the remainder of the clue.

(Other definitions for assisi that I've seen before include "Home town of St Francis" , "town, in Italy" , "Italian city, associated with St Francis" , "Italian town, birthplace of St Francis" , "St Francis's town" .)

I've seen this clue in The Guardian.

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