The most common and most likely answer to this crossword clue is the 4 letter word LIEU
I've seen this crossword clue in Financial Times
L
I
E
U
More clues leading to the result LIEU
- Place such as Washington wouldn’t do for everyone
- Remain confined to bed, missing quiet place
- Place false statement before head of university
- Lunéville, on reflection, oddly neglected place
- Abstain from work, losing parking place
- Place where one goes to be heard
- Place like industrial estate unsafe, all kicking off?
- Place Israel over and above Brexit issue
- Place where economy of truth is fashionable
- Place to sit, on top of umbrella
Buddy explains!

The straight part
We know that "Place" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case place = lieu.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 LIEU mean?
LIEU noun- Place, stead; See in lieu or in lieu of