Mmmmm, nope.
The Law says, in the EU, i as a seller have to offer you compensation if i am out of stock.

The only real chance the guy has, is the 14 days right to return unsatisfactory products. If you are in this time frame, you can try to get your money back but only with the help of your lawyer. The contract of HC is invalid at this point. The question here is the cost of your lawyer against the cost the compensation.