It occurs to me that we have been bailing out / supporting the privatised rail operators since day 1 of the privatisation anyway. The big operators receive huge amounts of tax payer subsidy and are allowed tax deferments - rolling over unpaid tax from one year to the next, without actually ever paying any of it.
With that in mind, I say let them fail and put it back into public hands again as I'm sure it would be cheaper in the long run. Oh! and claw back unpaid tax revenue from the board members and big shareholders to cover what the treasury is owed, the same as I would be for unpaid tax.

The big power utilities have us over a barrel anyway. I don't see any of them needing a bailout any time soon, although I'm sure they are looking at ways of raiding the public purse as is the current trend.