Im sure not all the bad debt are chargebacks, if any, but hopefully there is some other things in there that could lower that number. If the bulk of it is, they really technically arent a loss, but it can be written off as one, because when the chargeback occurs, it will trickle down to the independent business owners under CPD who will ultimately pay back that loss to CPD.
Chargebacks are complicated, but they help lower tax rates, they just dont look good on publicly traded companies that provide various statements because there isn't a section to really explain what they are and how they technically aren't a loss for the company.
Its not too common for these kind of companies to be publicly traded I guess.