This has been reported on here before. We never did figure out if there is a fuel cut but in every other case the car eventually just started without any further problems.
I can't imagine there was enough speed built up while backing out of a parking spot to impact the engine. The bumper cover however could look like it was hit by a train. That just means it did it's job and absorbed the impact.
When you say "won't start" do you mean it cranks but doesn't fire or doesn't even crank?
http://www.ft86club.com/forums/showthread.php?t=113200