The most common and most likely answer to this crossword clue is the 10 letter word CRASH-LAND
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More clues leading to the result CRASH-LAND
Buddy explains!

The straight part
We know that "fail spectacularly" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case fail spectacularly = crash-land.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 CRASH-LAND mean?
CRASH-LAND verb- To land an aircraft or spacecraft in an emergency, either in an inappropriate place or under dangerous conditions; usually results in damage to the craft and the possibility of loss of life.