Do you really think the government would allow NATS to go bankrupt?
Probably not. But what if at 2359 NATS rolled over and died and was replaced at 0001 with NATS2? Would NATS2 have ANY of the liabilities pensions or otherwise of the company we work in now? Would the government guarantee our pensions or would they replace the scheme with a "basic" pension?.
Just thinking aloud here......