Thanks all. I had this as reputation (stock) + broke (collapsed) + R(eputation) which means "in dire straits" has to equate to belt. Chambers has belt = strait, but why plural and why dire?
Alternatively "in dire straits" could give broke but then the word order is wrong. I suppose belt could = area but it's part of the definition, so not accounted for in the wordplay. I'm reluctant to suggest an error, especially as nobody else has highlighted it, but for me the clue doesn't quite work.