Refund of deposits

Hi , my son’s football team have booked and paid for a tournament to Alton Towers early May bank holiday weekend, obviously the trip has been cancelled and we have been advised we will get a refund of moneys paid however we won’t get our deposits back! Instead we will get a credit note to use for upto 24 months to enable us to book again next year.  I have queried this with the company as next year the team will not be the same or may even fold. The company have told me they do not have enough money to pay back everything we have paid to them because they have organised events and paid out salaries. The reason we are getting a credit note is because this is ABTOT protected. Please advise as I believe we should be entitled to a full refund of all moneys paid. Thanks in advance 

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    Hi , my son’s football team have booked and paid for a tournament to Alton Towers early May bank holiday weekend, obviously the trip has been cancelled and we have been advised we will get a refund of moneys paid however we won’t get our deposits back! Instead we will get a credit note to use for upto 24 months to enable us to book again next year.  I have queried this with the company as next year the team will not be the same or may even fold. The company have told me they do not have enough money to pay back everything we have paid to them because they have organised events and paid out salaries. The reason we are getting a credit note is because this is ABTOT protected. Please advise as I believe we should be entitled to a full refund of all moneys paid. Thanks in advance 
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