Before you move the sofa, Lowe's sell what I call blind nuts, in the specialty hardware trays. They are brass, and have a coarse wood thread on the outside and a machine thread on the inside such as 1/4 x 20. They some in different sizes. I used 5/16 for a project. They are installed by drilling an appropriate hole in the wood, then using a wide screwdriver just screw them in. Now you have machine threads to work with. You may be able to put them in the stripped hole you have, and use machine screws to secure the couch. May need washers on the screw heads. Just something to think about.
Found on Lowe's web page. Called Insert Nut. Come in screw in and hammer in. Just search for insert nut. Can't get link to work.
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