@Carol 83 - The bare rooting and repotting to kanuma can be done, but TIMING is the issue. Your azalea is in full bloom, a bad time to repot. A very bad time to bare root. If you could limp this pot through the summer, and when the azalea is just barely breaking dormancy next year in spring, you can do the bare rooting and chances of survival will be quite high.
You can wait until after blooming. Remove spent flowers. Give the azalea a light dose of fertilizer, give the azalea a 2 to 4 week rest, then repot, you will be doing a middle of growing season repot. But by giving the azalea a couple weeks after removing flowers, you will have allowed it to recover a little from the stress of blooming. The fertilizer will have allowed it to rebuild a little of its resources.
With these multiple cuttings in a single pot, I always had the best luck just picking one trunk as the one with with best shape. Cut off at dirt level the others, they are sacrificed to improve the chances of the one surviving. Then limp the one through until ideal repotting season next spring. Then do a bare root or a near bare root.
Don't believe the bull-hockey that you can not acclimate a peat grown azalea to growing in kanuma or any other mix. You do need to be conscious of not ripping up fine roots if possible, minimize the ripping up of fine roots. But switching can be done. Best done late winter, early spring. When the azalea is just beginning to produce leaves. Remove flower buds the year you make the switch.
By the way, while you can never be certain, I believe your azalea is the cultivar 'Haru no Hibiki' which is a Belgium hybrid bred for the potted plant trade and pretty common in the "Big Box Stores" in USA.
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