Withdraws around celebrations (8)
I believe the answer is:
retreats
This clue could be a double definition.
'withdraws' is the first definition.
('retreat' can be a synonym of 'withdraw')
'celebrations' is the second definition.
The answer and definition can be both acts as well as being plural nouns.
Perhaps you can see an association between them that I can't see?
'around' acts as a link.
Can you help me to learn more?
(Other definitions for retreats that I've seen before include "Places that afford peace and quiet" , "Of army, falls back before enemy attack" , "Backs away" , "tactical withdrawals" , "Goes back, like defeated army" .)