The most common and most likely answer to this crossword clue is the 8 letter word BUGBEARS
I've seen this crossword clue in The Guardian
B
U
G
B
E
A
R
S
Buddy explains!

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 BUGBEARS mean?
BUGBEARS noun- An ongoing problem; a recurring obstacle or adversity.
- A source of dread; resentment; or irritation.
- An imaginary creature meant to inspire fear in children.