If the leaves are wrinkly...that means either underwatering or overwatering. The question is the mix, has it broken down? sounds like it.
If you allow the plant to open the blooms, the plant will be putting all it's energy into the bloom spike and will kill the plant. If you plant is sentimental, cut the flower spike immediately. If not, just enjoy the bloom spikes and them throw out the plant. To me it depends just on how wrinkly it aready is...if is too far gone already.
Send me a pic.
Happy Growing!
Lee
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