The demise of Hulleys may have echoes of other failures as the usual issue is what happens when the money runs out.
Munros of Jedburgh was just mad expansionism...a bit like a certain individual in the Bristol area. Whilst I do see parallels with Velvet, the greater similarity is with Western Greyhound. A decent operator in marginal territory where the owners sell out...only to see the new owners having insufficient reserves and effective business acumen to buy it and run it.
We have seen many instances of councils have established contingency plans for when this happens...because whilst the end is swift, the story is usually played out over a protracted period. Again, see Western Greyhound, Webberbus, CT Plus, Countryliner...