Bed Bath & Beyond’s Executive Chairman Marcus Lemonis announced Wednesday that the company will not open or operate retail stores in California, citing high costs and heavy regulation as reasons for the decision.
In a statement posted on X, Lemonis said the move was not motivated by politics but by the company’s need to remain financially viable.
“California has created one of the most overregulated, expensive, and risky environments for businesses in America,” Lemonis wrote.
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He explained that higher taxes, higher fees, higher wages, and “endless regulations that strangle growth” made it impossible for the company to sustain operations in the state.
Lemonis added that California’s budget surpluses are being built at the expense of “ordinary citizens who are paying too much and businesses who are squeezed until they break.”
He said the company would not participate in what he described as a system that undermines both customers and shareholders.
Official statement regarding @BedBathBeyond
We will not open retail stores in California.
This isn’t about politics — it’s about reality.
California’s system makes it nearly impossible for businesses to succeed, and I won’t put our company, our employees, or our… pic.twitter.com/G5dSaigB3y— Marcus Lemonis (@marcuslemonis) August 20, 2025
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Instead, Bed Bath & Beyond will focus on strengthening its online presence in California.
According to Lemonis, the company will provide delivery service through BedBathandBeyond.com with orders arriving within 24 to 48 hours, and in some cases, same-day delivery.
Lemonis said the strategy would allow the company to avoid the “inflated costs created by an unsustainable model” while still serving California customers.
The announcement comes as the retailer attempts to regain footing after its collapse in 2023.
Bed Bath & Beyond filed for Chapter 11 bankruptcy in April 2023 and shut down all of its physical locations.
At the time, analysts pointed to what Reuters described as “poor inventory management, slow adoption of online shopping trends and overreliance on coupon shopping” as key reasons for the decline.
Overstock.com purchased Bed Bath & Beyond’s intellectual property, including its brand name and domain, for $21.5 million in June 2023.
The website was relaunched under the Bed Bath & Beyond banner by August, and Overstock rebranded itself as Beyond, Inc. in November 2023.
In February, Kirkland’s Inc. finalized a $25 million investment deal with Beyond, giving Kirkland’s exclusive rights to operate new Bed Bath & Beyond retail locations across the country.
The partnership is focused on smaller-format “neighborhood” stores.
The first of these new Bed Bath & Beyond Home stores opened earlier this month in Nashville, Tennessee.
On Monday, Lemonis announced that the company had changed its corporate name back to Bed Bath & Beyond, Inc.
The company’s common stock will begin trading under the ticker symbol BBBY on the New York Stock Exchange starting August 29.
Lemonis said the name change underscores the company’s effort to “highlight the most valuable pieces of intellectual property that investors and consumers know today.”
In addition to reviving Bed Bath & Beyond, Lemonis said the company aims to build Overstock.com back into a billion-dollar name and to maximize the value of blockchain assets tZERO and GrainChain.
Lemonis emphasized that the company’s strategy is focused on delivering value to customers and stability to shareholders as it reestablishes itself in the retail sector.
While Bed Bath & Beyond’s decision leaves California without a physical store presence, its executives maintain that the online service model will ensure that the state’s consumers remain part of its growth strategy.
Meanwhile, the Gavin Newsom Press Office account on X, had this to say:
After their bankruptcy and closure of every store, like most Americans, we thought Bed, Bath & Beyond no longer existed.
We wish them well in their efforts to become relevant again as they try to open a 2nd store. https://t.co/jJt6i5icEx
— Governor Newsom Press Office (@GovPressOffice) August 20, 2025
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