I'll repeat what I just sent to the OP:
I think it's impt to contact the rags now, as they can start some digging straight away if they're so inclined, and then once the uni reopens the students can make inroads at organising. As others have mentioned, contacting the SU is crucial, and the OP et al should fight fight fight to get them on board (which can often be difficult, but worth fighting for). In addition, they should also contact a UCU rep at the uni. I'm sure that if the uni is in such dire financial problems that they need to withdraw already allocated bursaries half way through the academic year, the UCU will be incredibly anxious about their own members, and a coalition between students and staff is a strong thing to have.
My uni, Keele, has seen a lot of UCU activity lately. They ballotted to grey list the uni (meaning any UCU member from other unis wouldn't go to conferences at Keele or participate in any way academically), along with other measures too. The SU came out in allience with them, and several campus demos were held throughout last academic year. The UCU won (mostly), and students and staff felt they had a common bond. That kind of relationship is a key one to foster in any uni, and I would think is especially needed in Reading's situation.