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Name of massacre, with safe gents maybe hiding below (8)

Ross

I believe the answer is:

peterloo

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'gents maybe hiding below' is the definition.
I know nothing about this answer so I can't judge whether this works.

'name of massacre with safe' is the wordplay.
'name of massacre' becomes 'loo' (I can't justify this - if you can you should give a lot more credence to this answer).
'with' means one lot of letters go next to another.
'safe' becomes 'peter' (slang term for a safe).
'loo' after 'peter' is 'PETERLOO'.

Can you help me to learn more?

(Other definitions for peterloo that I've seen before include "massacre, say" , "Name given to Manchester massacre" , "1819 Manchester massacre scene" , "So-called massacre" , "Site of 1819 Manchester massacre" .)

I've seen this clue in The Guardian.
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