Can supplier back track on purchase?

[missbluebird]

I bought an iPad Air online with a 25% discount...recommended on moneysavingexpert... Payment has been made and been awaiting delivery for weeks. They have just contacted me to say they can't get supplies of the ipad anymore and want to refund me. I am gutted...is a long overdue Father's Day present. Do I have any rights with this? Did the supplier enter into a contract to supply? Or do I just have to accept the refund

[Collaborate]

Read the terms and conditions.

[PleaseJustShootMeNow]

They've sold out and can't get hold of anymore. What do you think they should do?