Farmers Home Furniture Represented durablend leather as real leather Clinton North Carolina

When I purchased this set they "Farners Furniture" told me it was leather and that it would not peel.  I have had this set probably 3 or 4 years and paid a substantial amount for it and it is peeling and making a huge mess. 

I am now in the market to replace it in this short period of time.  The sitablilty of it is fine, it is just that all my so call "leather" is shedding on the floor and attaching to your body and you find it everywhere. 

I even paid for an extended warranty which is no good as well. The furniture that they sell is not good quality and a huge ripoff.  You would expect this quality from a 5 and 10 cent store.  Help Help!!!