Richtj
If the bases of the leaves are rotting below the soil surface, you've got rot: too wet, not enough oxygen. Any possibility of saving the plant will require removing the plant from the soil, cutting out all rotten roots and doing a complete repot in faster draining soil with a lower peat content. Agree that it looks too deep, so after repotting you might need to stake it upright until the new roots take hold. It might benefit from brighter light too.
