The most common and most likely answer to this crossword clue is the 11 letter word RECOVERABLE
I've seen this crossword clue in The Daily Telegraph
R
E
C
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V
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Buddy explains!
The straight part
We know that "Like well-worn sofa/OK for retrieving from skip" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case like well-worn sofa/ok for retrieving from skip = recoverable.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 RECOVERABLE mean?
RECOVERABLE noun- Amounts of reinsurance coverage that are due from a reinsurer.
- Capable of being regained or recovered.
- Restorable from sickness, faintness, danger, etc.
- Capable of being brought back to a former condition, or recovered from.
- Obtainable from a debtor or possessor