One’s welcoming new name for pubs (4)
I believe the answer is:
inns
'pubs' is the definition.
(an inn is a type of pub)
'one's welcoming new name' is the wordplay.
'one's' becomes 'is' (Roman numeral).
'welcoming' indicates putting letters inside (in sense of 'inviting in').
'new' becomes 'n' (abbreviation as in New Testament NT).
'name' becomes 'n' (common abbreviation e.g. on forms).
'n'+'n'='nn'
'is' placed around 'nn' is 'INNS'.
'for' is the link.
(Other definitions for inns that I've seen before include "Places of rest and sustenance for travellers" , "drinking haunts" , "Drink here and learn about the King's law" , "Roadhouses or courthouses" , "Drinking places (frequented by barristers?)" .)