Bed Bath & Beyond says it won’t open stores in California
Digest more
Marcus Lemonis says Bed Bath & Beyond will avoid California retail operations due to expensive regulations, instead offering online delivery within 24-48 hours.
Executive Chairman Marcus Lemonis said the home retailer won’t open stores in the state, while the fashion company cut a deal with Authentic Brands Group.
Beyond ( NYSE: BYON) CEO Marcus Lemonis is steering clear of California, calling out the state’s overregulation, high taxes, and risky business environment for his decision to not open or operate Bed Bath & Beyond retail stores in the state.
Bed Bath & Beyond, once a dominant home goods retailer, filed for bankruptcy in 2023 after years of declining sales and mounting debt.
The CEO of the retailer Bed Bath & Beyond issued a stinging rebuke of California and said he won’t be expanding to the Golden State thanks to Democrat-imposed regulatory burdens. “We will not open or operate retail stores in California,” began a statement from Marcus Lemonis.