Old King’s company ditching Director outside (8)
I believe the answer is:
alfresco
'outside' is the definition.
(I've seen this before)
'old king's company ditching director' is the wordplay.
'old king's' becomes 'alfreds' (Alfred the Great).
'company' becomes 'co' (abbreviation).
'ditching' is a deletion indicator.
'director' becomes 'd'.
'alfreds'+'co'='alfredsco'
'alfredsco' with 'd' removed is 'ALFRESCO'.
(Other definitions for alfresco that I've seen before include "In the open air" , "Open-air" , "Meal eaten in the outdoors" , "Outside" , "where it's cool" .)