It's a composite anagram, where the letters of the solution plus DUD HA-HAS can be rearranged to produce HARE AND HOUNDS, the answer being an old word ('discontinued') meaning 'race'.
Not one of Azed's finest clues, I'd venture to say. But he's probably clued the word several times in the course of his 2,405 puzzles and always tries to come up with something different, never intentionally re-using a clue.