Sports Direct rescues Evans Cycles but will close stores

LONDON (Reuters) - Britain's Sports Direct <SPD.L> said on Tuesday it has purchased specialist cycling retailer Evans Cycles immediately after it fell into administration.

Sports Direct, controlled by retail tycoon Mike Ashley, said it would keep half of Evans Cycles' 62 stores open.

The business employs around 1,300 staff.

(Reporting by James Davey, Editing by Paul Sandle)