Nothing about old floor covering (4)
I believe the answer is:
lino
'floor covering' is the definition.
(short for linoleum)
'nothing about old' is the wordplay.
'nothing' becomes 'nil' ('nil' can be a synonym of 'nothing').
'about' is a reversal indicator.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'nil' backwards is 'lin'.
'lin'+'o'='LINO'
(Other definitions for lino that I've seen before include "Floor covering (abbr)" , "Tough floor covering" , "'Floor covering, in short (4)'" , "put this down?" .)