South Western railway faces nationalisation after a £137m loss suggested the firm would go bust within the year.
The operator admit yesterday that its exiting contract would probably have to be terminated, but is in talks with the Department for Transport over a rescue plan.
The train company’s directors said it was uncertain that it could fulfil the terms of its franchise, while a £146m cash injection from its parents – FirstGroup and MTR – would be exhausted before the end of the year.
