I know it's a long shot but you could consider finding a less valuable JVC model from the same era with a working multi voltage transformer. My RC-727 from 1977 is not for sale but as an example, could have a similar transformer unit (110v, 220v, 240) selectable via a switch under the unit. The 727 is a 12v 8 'D' cell unit. The power requirements of the RC-550 are probably very different but who knows?!
Below are 9 photos of the part of my RC-727. It might be worth pulling the back off yours to compare. The transformer on these are super easy to remove as the 3 wires have connectors. Even if the transformer bracket is different, you could just pull the transformer. You wouldn't need the voltage selection opening either after you confirm 240v has been selected.
I got mine from Ebay for $39.00 AUD.
The RC-550 might have a completely different arrangement but you never know.
Good luck,
James...
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Power wires from the transformer terminate at this circuit board:
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