Bed Bath & Beyond Won’t Return to California, Citing Business Climate

As Bed Bath & Beyond emerges from a bankruptcy that forced the closure of all its stores, the company’s executive chairman took aim at california, saying he refuses to reopen locations in the state.

“California has created one of the most overregulated, expensive, and risky environments for businesses,” Beyond, Inc. executive chairman Marcus Lemonis said in a statement posted on X. “It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers.”

The home goods retailer, once common in strip malls and shopping centers, used to have more than 80 stores in California. It joins a handful of companies that have denounced California’s business environment. Some executives say California’s high taxes, high cost of living and stringent environmental regulations hinder businesses trying to thrive.

Billionaire In-N-Out owner Lynsi Snyder announced her departure from California earlier this summer, saying that doing business and raising a family in the Golden State was “not easy.” While in-N-Out’s corporate headquarters will remain in the state, several high-profile firms have moved their headquarters out in recent years, including Chevron, Tesla, SpaceX and Charles Schwab.

Economists say the state is still one of the world’s premier tech hubs and has a lot to offer, including a range of industries and a vast talent pool. Still, more companies have been leaving the state than entering since 2015, Bureau of Labor Statistics data shows.