I do not have any hands on experience but from what I have learned here about Viscounts, and experience with other similar BBs I agree. search the forum and Utube for sealed bearing replacing.
a good bike shop in your area, one with decent mechanic anyway, should be able to replace the bearings and inspect the spindle.
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk