The most common and most likely answer to this crossword clue is the 6 letter word ARRACK
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More clues leading to the result ARRACK
Buddy explains!

The straight part
We know that "Cheap liquor" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cheap liquor = arrack.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ARRACK mean?
ARRACK noun- A clear, unsweetened aniseed-flavoured alcoholic drink, produced and consumed primarily in the Middle East
- The toothbrush tree, Salvadora persica.