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(FOX40.COM) — The home-goods retailer Bed Bath & Beyond is planning to make a comeback in the U.S. after a bankruptcy forced it to close all of its stores; however, it’s skipping out on doing business in California.
• Video Above: Retail store closures continue
For decades, Bed Bath & Beyond was known for its large brick-and-mortar stores filled with a vast selection of home goods, including bedding, bath items, and kitchen essentials. After falling on hard times, the company filed for bankruptcy in 2023, which prompted the closure of all 365 of its physical stores in the U.S.
Bed Bath & Beyond was acquired by Overstock.com. Since then, it has been operating online only but has made plans to reopen physical stores. Last month, the company began opening smaller stores, branded as “Bed Bath & Beyond Home,” with a grand opening in Nashville. While more locations are in the works, they don’t plan on opening any California stores.
“California has created one of the most overregulated, expensive, and risky environments for businesses in America,” Bed Bath & Beyond executive chairman Marcus Lemonis said in a statement released on social media. “It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers.”
Lemonis, who once praised the economic environment under President Donald Trump, said the decision was not about politics, but instead, reality.
“We’re taking a stand because it’s time for common sense. Businesses deserve a chance to succeed,” Lemonis said. “Employees deserve jobs that last. And customers deserve fair prices. California’s system delivers the opposite.
In response to Lemonis, California Governor Gavin Newsom sent well wishes.
“After their bankruptcy and closure of every store, like most Americans, we thought Bed Bath & Beyond no longer existed,” Newsom said on X. “We wish them well in their efforts to become relevant again as they try to open a second store.”
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Veronica Catlin
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