Meat embargo restricting company (5)
I believe the answer is:
bacon
'meat' is the definition.
(bacon is a kind of meat)
'embargo restricting company' is the wordplay.
'embargo' becomes 'ban' (I've seen this before).
'restricting' is an insertion indicator.
'company' becomes 'co' (abbreviation).
'ban' placed around 'co' is 'BACON'.
(Other definitions for bacon that I've seen before include "Meat (brought home by a breadwinner?)" , "Francis -, twentieth century Ir. artist" , "sizzler" , "Eg, rashers" , "Old scientist" .)