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Essentially being offered store credit to a store with questionable longevity is probably edging towards dick move, but I had the same reaction initially. My only experience of chargebacks is on the vendor side where you get stung with a fee and accused of fraud. I've had a customer do that because they changed their mind and wanted to cancel their (already shipped) order. Took ages to sort out.
Yeah, but that's a bit of a dick move isn't it? It's not like they're being dicks about it (yet).