Bachelor on island failing to finish liquor? (6,4)

I believe the answer is:

single malt

'liquor?' is the definition.
(type of whisky)

'bachelor on island failing to finish' is the wordplay.
'bachelor on' becomes 'single' (an unmarried man. I am not sure about the 'on' bit.).
'island' becomes 'Malta' (Malta is an example).
'failing to finish' means to remove the last letter.
'malta' with its final letter taken off is 'malt'.
'single'+'malt'='SINGLE MALT'

I've seen this clue in The Times.

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