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Groupon

I ordered an item from Groupon, they accepted the order and took my money. Paid by bank debit card. They sent me an invoice for my payment. The item did not arrive within the stipulated time so I chased it up. They have responded that the item is no longer available and they have offered me a credit note. I am ok with the item not being available but want a refund, not a credit note. What are my rights?

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