The British cycling movie based on the life of GRAEME OBREE - who became World Champion on a bike made from a washing machine - has been saved from financial ruin by administrators.

THE FLYING SCOTSMAN, which stars Johnny Lee Miller and Billy Boyd, looked to be doomed when its production company went bankrupt before filming was completed.

But administrators Tenon Recovery stepped in and made sure the $5.4 million (GBP3 million) film - which charts Obree's rise from obscurity to sporting acclaim, before descending into a deep depression and attempting suicide - is released in cinemas.

Spokesman KENNETH CRAIG says, "Our priority is to make sure The Flying Scotsman is released."