Killer toyed with headless Schubert (7)
I believe the answer is:
butcher
'killer' is the definition.
(I know that butcher is a type of liquidator)
'toyed with headless schubert' is the wordplay.
'toyed with' indicates anagramming the letters (I've seen 'toying with' mean this (I've seen this in other clues)).
'headless' means to remove the first letter.
'schubert' with its initial letter taken away is 'chubert'.
'chubert' is an anagram of 'BUTCHER'.
(Other definitions for butcher that I've seen before include "One sells meat" , "Kill - food retailer" , "Killer" , "Spoil terribly" , "He cuts up and sells meat" .)