Not very well, but looking for a way (5,1,7)
I believe the answer is:
after a fashion
'not very well' is the definition.
('after a fashion' can be a synonym of 'not very well')
'looking for a way' is the wordplay.
'looking for' becomes 'after' (I've seen this before).
'way' becomes 'fashion' ('fashion' can be a synonym of 'way'**).
'after'+'a'+'fashion'='AFTER A FASHION'
'but' acts as a link.
(Other definitions for after a fashion that I've seen before include "Like a trendy shopper" , "In some (unsatisfactory) manner" , "Change" , "Following a trend" , "Not completely" .)