Getting a refund for a cancelled event due to Covid-19

Description

Hi, we paid for a birthday event that can now not take place this month but the vendor is saying they don’t have the money to provide a refund and we will be added to a “list” They are still trading. Question is can I go through PayPal dispute or my credit card that is linked to my account to chase this as our concern is if the company ceased trading we will lose all the money. I am sympathetic to businesses in this time but we all have our own personal financial concerns. Thank you