What does the cryptic crossword clue "For example, William Hill’s losing billions following cold food (7)" mean?

The wordplay uses a deletion. C (synonym="cold") + OOKIES (synonym="William Hill’s, for example") = COOKIES The answer is COOKIES.

For example, William Hill’s losing billions following cold food (7)

Guardian Cryptic #29370 | 1 Down | 2024-04-30 flower