Unpaid, Piers regularly gets to all-time low (5)
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I believe the answer is:
nadir
'to all-time low' is the definition.
(I've seen this before)
'unpaid piers regularly' is the wordplay.
'regularly' means one should take alternating letters (regularly take one letter, leave next etc.).
'unpaid'+'piers'='unpaidpiers'
The alternate letters of 'unpaidpiers' are 'NADIR'.
'gets' is the link.
(Other definitions for nadir that I've seen before include "deep despair" , "Low spot" , "Lower one cannot get!" , "Point of greatest despair" , "extremely low position" .)