The place for fatheaded old bleaters? (4)

I believe the answer is:

fold

I'm a little stuck... Click here to teach me more about this clue!

'the place' is the definition.
The definition and answer can be both acts as well as being singular nouns.
Maybe you can see a link between them that I don't see?

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for fold that I've seen before include "Crease" , "Church following" , "stop functioning" , "Cease trading" , "Small pen for sheep" .)

I've seen this clue in the Evening Standard.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.