The most common and most likely answer to this crossword clue is the 10 letter word DISAPPOINT
I've seen this crossword clue in Financial Times
D
I
S
A
P
P
O
I
N
T
More clues leading to the result DISAPPOINT
Buddy explains!

The straight part
We know that "Fail" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case fail = disappoint.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.
Crossword Answer definitions
DISAPPOINT verb- To sadden or displease (someone) by underperforming, or by not delivering something promised or hoped for.
- To deprive (someone of something expected or hoped for).
- To fail to meet (an expectation); to fail to fulfil (a hope).
- To show (an opinion, belief, etc.) to be mistaken.
- To prevent (something planned or attempted).
- Disappointed