Colorado Springs-based men's clothing store Rutledge's moves out;

Colorado Springs Business Journal, May 13, 2005 by Rob Larimer

After selling men's clothing from the same location for 38 years, Rutledge's is moving from the corner of Pikes Peak and Tejon, and Academy Bank is planning to take its spot.

Jerry Rutledge is planning to move his clothing business into the Perkins-Shearer building, about a block north to the northwest corner of Tejon and Kiowa. The building is home to Mister Neat's Formal Wear and Roger's Shoes, which has been at the location for about 30 years.

Rutledge leases space at his current location but is purchasing an interest in the Perkins-Shearer building. The transaction isn't final, and he was hesitant to comment on details. But, the location change appears to be certain as Rutledge closed his shop for a few days this week to prepare for a moving sale.

The move is expected to happen in late June or early July.

This place isn't for retail anymore, Rutledge said. That's why I'm moving.

Rutledge said that the proximity of womens' clothing stores to the new location would likely boost his business. His current location is bounded by restaurants and banks.

If Academy Bank moves into Rutledge's vacated space, it will be a neighbor to banking giants U.S. Bank and Bank One, both on corners at the same intersection.

Representatives from Academy Bank gave little detail about moving downtown, but if Rutledge's deal is finalized, the bank plans to move its commercial banking headquarters to the location, according to Academy Bank spokeswoman Susan Mecham.

There are nine Academy Bank branches in Colorado Springs, including four Wal-Mart locations and its oldest military branches .

The bank is hoping a move into the heart of downtown will further its reputation as serving the public at large and not just the military, Mecham said.

Rutledge said the move is a business decision and has everything to do with how much the retail market can change within a block.

It's a business move, he said. When you have six other retail stores that close to you, it creates a kind of synergy.

Rutledge will likely take over spaces occupied by Mister Neat's and Rogers, as well as the former Colorado Baggage location.

Where Mister Neat's and Rogers might go is unknown, but Rogers owner Tim Canon said he's looking into nearby locations.