The Transport Committee is launching an inquiry into the East Coast rail franchise.
The MPs said there are "serious questions" to be asked, adding that they will look at the best way forward, and the wider implications for the rail franchising system.
Earlier this month, Transport Secretary Chris Grayling announced that the Stagecoach-led franchise would only be able to continue in its current form for a "very small number of months".
Lilian Greenwood, chairwoman of the committee, said:
A Stagecoach Group spokesman said:
A Department for Transport official said:
Mick Cash, leader of the Rail, Maritime and Transport (RMT) union, said: