Leather seats have shrunk! Dry and hard

Here are some pictures. 


My guess is that the leather seats shrunk up (since these seats are not raw leather) and the vinyl coating did not, so when it all dried out the leather was unable to form back into place.  I've tried mink oil and meguiars and know they dont work.  Do you think its worth trying to fix, or would you still suggest getting new seats?
Thanks,
Malcolm

Although water is good for leather and is what keeps it in good confditioin generally when it gets over soaked (as is the case here) the leather fibres swell and become deformed.  When they dry they do not shrink back to their original form and so become  more brittle and distorted.  Unfortunatley at this stage it is pretty impossible to rectify this.  Adding oils/waxes will not work on coated leather and as the problem is with the fibres themselves being distorted there is nothing you can add to the leather that will help.