Made good wine, drinking up another takes time (8)
I believe the answer is:
restored
'made good' is the definition.
(restore can mean to fix or make good)
'wine drinking up another takes time' is the wordplay.
'wine' becomes 'red' (red is a type of wine).
'drinking' is an insertion indicator (inserted letters are consumed or drunk).
'up another takes time' becomes 'store' (I can't explain this - if you can you should believe this answer much more).
'red' going around 'store' is 'RESTORED'.
(Other definitions for restored that I've seen before include "Given back" , "Repaired a work to its original state" , "mended?" , "Returned to former state" , "Brought back to original condition" .)