I have never bought anything from Taylor King, but I think the issues you are having with the wrinkling right now will get better over time, if you just bought this couch.

Hi MM, I purchased a Taylor King sofa too. Besides the damaged on the back of my sofa, my back cushions look so wrinkled! I went to two upholsterers they could not fixed them. I did put a solid piece of form on the bottom of each cushion, manipulated the filling to the top, only helped a little. My next try is a streamer. As far a the cushion hanging over the sofa you have to show them this issue. I do not know what happened to Taylor King, was such a good company. You and I are not the only ones with issues. Good Luck

IMO not a bit acceptable but you need to start the fight to get it replaced.