Demolish old book, well read (10)
I believe the answer is:
obliterate
'demolish' is the definition.
(both can mean to destroy)
'old book well read' is the wordplay.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'book' becomes 'b' (abbreviation for book).
'well read' becomes 'literate' (literate can mean well read).
'o'+'b'+'literate'='OBLITERATE'
(Other definitions for obliterate that I've seen before include "use eraser" , "Root out" , "Eradicate" , "Efface, blot out" , "Eliminate" .)