We ultimately fail to show up for reception (7)
I believe the answer is:
welcome
'reception' is the definition.
(I've seen this before)
'we ultimately fail to show up' is the wordplay.
'ultimately' says to take the final letters.
'to show up' becomes 'come' (I've seen this in another clue).
The last letter of 'fail' is 'l'.
'we'+'l'+'come'='WELCOME'
'for' is the link.
(Other definitions for welcome that I've seen before include "Greet upon arrival" , "Greet; gladly received" , "Multiply it by a hundred thousand here" , "Accept gladly" , "Receive with pleasure, say guest" .)