This is a pretty easy fix. The stays are sewn onto the frame via the webbing. The stay can be slid out of the webbing after some minor seam ripping, shaved down via a saw to clear a clean path for a fix it stitch, and placed back in. You would have to shave the stay down in order to clear room for a new stitch. Then you would fold the fabric in with new loops, throw a top stitch on, and bartack over it to re-enforce the loops.
Feel free to contact me if you want it fixed. I don't mind doing it as long as you take care of shipping.