CALIFORNIA – Bed Bath & Beyond executive chairman Marcus Lemonis announced, August 20, that the company will not open or operate retail stores in California.
“California has created one of the most overregulated, expensive, and risky environments for businesses in America. It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers,” said Lemonis.
The company filed Chapter 11 bankruptcy in April 2023 and subsequently closed all 360 stores. Overstock.com acquired Bed Bath & Beyond and rebranded itself as Beyond, Inc.
Lemonis added that California’s business environment results in higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangle growth.
“Even when the state announces a budget surplus, it’s built on the backs of ordinary citizens who are paying too much and businesses who are squeezed until they break,” said Lemonis.
California customers can still shop online
Bed Bath & Beyond plans to reopen smaller-format stores nationwide, starting with a location in Nashville, Tennessee.
For California, the company plans to serve customers exclusively through its online platform, BedBathandBeyond.com, offering delivery services within 24 to 48 hours.
Lemonis said this will allow the company to continue delivering products to customers without the inflated costs created by an “unsustainable model.”
He emphasized that the decision was based on business realities rather than political factors.
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