(NewsNation) — Bed Bath & Beyond is poised for a comeback, but don’t expect any new stores in California, the brand announced Wednesday.
Executive Chairman Marcus Lemonis said the decision isn’t political — it’s a response to the state’s unfriendly business environment.
“California has created one of the most overregulated, expensive, and risky environments for businesses in America,” Lemonis said in a statement. “It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers.”
Bed, Bath & Beyond stores closed, but website relaunches through new owner
Lemonis said the retailer will have stores in “almost every other state” in a response on X.
California Gov. Gavin Newsom’s press office clapped back on Wednesday afternoon, writing on X: “After their bankruptcy and closure of every store, like most Americans, we thought Bed, Bath & Beyond no longer existed.”
Newsom’s press office added: “We wish them well in their efforts to become relevant again as they try to open a 2nd store.”
Wednesday’s announcement from Lemonis comes as the housewares store tries to stage a comeback two years after filing for bankruptcy.
Earlier this month, the first revamped Bed Bath & Beyond Home store opened in Nashville.
It’s been a multiyear journey for the popular home goods brand that went defunct in 2023. After the chain went bankrupt, Overstock.com acquired the intellectual property, rebranded as Beyond, Inc. and relaunched the Bed Bath & Beyond domain online.
Bed Bath & Beyond bankruptcy: What happened to the retailer?
Earlier this year, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores nationwide. Kirkland’s has since rebranded as The Brand House Collective and plans to roll out Bed Bath & Beyond Home stores by converting existing Kirkland’s stores.
Depending on how things go in Nashville, the company plans to convert approximately 75 stores through 2026.
Lemonis, a Lebanese-American businessman who is also the CEO of Camping World, said Californians can continue to buy Bed Bath & Beyond products online.
“We’re taking a stand because it’s time for common sense,” Lemonis said. “Businesses deserve the chance to succeed.”
Outside his business ventures, Lemonis is a popular TV personality, starring in the CNBC reality show “The Profit.” He also appeared on two episodes of Donald Trump’s “Celebrity Apprentice” back in 2012.
On Monday, Beyond announced it is changing its corporate name to Bed Bath & Beyond and will begin trading under the ticker symbol BBBY as of Aug. 29.
