Had same thing in same place in my Mk2 Escort about a year ago.
I tried to find another guard and mine didnt look as bad as your damage,
Judging by the photos id say it would be a good idea for you too.
it would have to be removed anyway to be repaired and they almost never look "quite right" when rebeatin.
i removed guard and it was reasonably simple. Drilled holes thru the spot welds there was about 7, then chiseled the weld/slag free and removed.
I had more of a time getting the damn dome top bolts off to remove the full chrome bumper than the guard haha .
Brought new gaurd for i think $100 and $45 for it to be welded on straight by raycoft down here.
Had colour match for bout $75 i think mate from friendly panel beater .
+ pinstripe .
Before
After
No Big problem