Mid 1960's Philco Console--Looking to replace/ eliminate some faulty speakers. Help! (Photos Inside)

Hello!

I acquired this Philco console a few months back. It is overall in great condition. I originally bought it to use functionally as a credenza type piece. Since, I have had the record player "tuned up". Sure, the idler wheel is hardened and the motor is a bit loud, but it does play.

This is where my problem lies. The speaker box on the right side sounds pretty distorted (see photos). The left side box sounds pretty good. What approach would you guys recommend to get this beaut up and sounding decent? Should I try to isolate the distorted speaker(s) and just eliminate them? Should I replace them all with newer equivalents? Or perhaps just disconnect the right-hand side box altogether, then set a decent woofer/ tweeter combo in the empty space behind the existing? Will only replacing/ modifying one side hurt the receiver? I do have a digital copy of the manual if that would be helpful.

I understand these older turntables have a pretty limited sound quality potential, but I would like to at least get the speakers sounding clear before I consider retro fitting something like an AT-LP60.

Photos:
https://imgur.com/7dgbMO8

Any pointers or opinions are much appreciated! Many thanks.