The most common and most likely answer to this crossword clue is the 7 letter word SOCIETY
I've seen this crossword clue in Financial Times
S
O
C
I
E
T
Y
More clues leading to the result SOCIETY
- Company very close to collapse in financial district
- Smart set, therefore drug-taking large community
- Old revolutionary council about to replace five-year community
- Coy, I set out for the fashionable world
- Club once highly tuned
- People that could be high
- Group of people of some obscure origins have base in large town...
- Company function recalled by wild yeti
- Southern metropolis hosting eastern association
Buddy explains!

The straight part
We know that "Club" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case club = society.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SOCIETY mean?
SOCIETY noun- A long-standing group of people sharing cultural aspects such as language, dress, norms of behavior and artistic forms.
- A group of people who meet from time to time to engage in a common interest; an association or organization.
- The sum total of all voluntary interrelations between individuals.
- The people of one’s country or community taken as a whole.
- High society.
- A number of people joined by mutual consent to deliberate, determine and act toward a common goal.