Wrecked piers to establish again (7)

I believe the answer is:

reposit

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'establish again' is the definition.
I can't tell whether this definition defines the answer.

'wrecked piers to' is the wordplay.
'wrecked' is an anagram indicator.
'piers'+'to'='piersto'
'piersto' with letters rearranged gives 'REPOSIT'.

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(Other definitions for reposit that I've seen before include "Lay away" , "store" .)

I've seen this clue in the Sydney Morning Herald.

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