I ended up filing a claim through PayPal, and thanks to their 180 day money back guarantee, I was refunded for my purchase (minus 1 cent). I was really expecting them to to say, sorry there's nothing we can do because Bandbox has essentially gone under, but that was not the case.
The process was pretty easy through PayPal. The only glitch was I couldn't complete the forms for the full amount of the purchase. I kept getting an error stating that the claim could not be for the full amount..... not sure what's up with that, so i filed the claim for the full amount minus a penny. I received my refund today.