BED Bath & Beyond’s executive chairman has spoken out after the decision was made to not bring any stores back to a key state.
The retailer notably went bankrupt in April 2023, but is making a comeback under Beyond Inc, formerly Overstock.com.
Bed Bath & Beyond is coming back with about 300 stores (stock image)[/caption]
Beyond Inc executive chairman Marcus Lemonis (pictured) has confirmed none will come to a controversial state[/caption]
For some time after the last remaining brick-and-mortar locations shuttered in July of the same year, the Bed Bath & Beyond banner operated as a fully e-commerce platform.
Things have since changed.
Under the guide of Beyond Inc executive chairman Marcus Lemonis, at least 300 Bed Bath & Beyond Home physical stores are now coming back for consumers.
The first Bed Bath & Beyond Home already opened in Nashville, Tennessee on August 8, per CNBC.
Except, there will be no stores coming to California, leaving longtime fans out of luck.
The decision to exclude the Golden State was made for several reasons, according to a statement from Lemonis on Wednesday.
“We will not open or operate retail stores in California,” Lemonis emphasized.
“This decision isn’t about politics — it’s about reality. California has created one of the most over-regulated, expensive, and risky environments for businesses in America.”
“It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers,” he added.
“The result? Higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangle growth.”
“Even when the state announces a budget surplus, it’s built on the backs of ordinary citizens who are paying too much and businesses who are squeezed until they break,” Lemonis continued.
The Beyond Inc executive chairman also argued that California has a “system that undermines both” customers and shareholders.
“We’re taking a stand because it’s time for common sense,” Lemonis argued.
California residents will still be able to get access to Bed Bath & Beyond merchandise, but only through the BedBathandBeyond.com website.
How does bankruptcy work?
Bankruptcy is a specific legal process that helps companies eliminate debt they can’t repay.
The process allows businesses to start fresh and gain access to new credit.
Supervised by federal courts, bankruptcies allow a company to sell off its assets more easily to pay off creditors, according to Investopedia.
Chapter 11, a common process for companies, is used to restructure a business with the goal of remaining open – even if it means selling off most of the company’s properties.
Chapter 7, on the other hand, sells all of a company’s assets, putting it out of business.
Chapter 15, alternatively, allows for collaboration between American and foreign courts to conduct bankruptcy proceedings with “parties of interest involving more than one country,” per the United States Courts.
This includes standard delivery, 24 to 48-hour delivery, and even same-day delivery in some situations, according to the executive chairman.
GOVERNOR’S RESPONSE
The press office for California Governor Gavin Newsom (D) has since responded in a post on X.
“After their bankruptcy and closure of every store, like most Americans, we thought Bed Bath & Beyond no longer existed,” it read.
“We wish them well in their efforts to become relevant again as they try to open a 2nd store.”
Lemonis also replied, proposing pro-business reforms for California and clarifying the 300 store openings.
“We will target opening 300 small to midsize neighborhood stores thru our Kirklands investment,” he wrote back.
“You are a smart man and I know the post below is out of frustration.”
MORE ON THE WAY
The incoming Bed Bath & Beyond Home stores are overseen by The Brand House Collective, formerly known as Kirkland’s, which now manages several retail stores under Beyond Inc’s banner, including Bed Bath & Beyond Home, Bed Bath & Beyond, Buy Buy Baby, and Overstock.
“We will be testing and learning the right inventory mix by category and by brand, but the look and feel of the stores will be a transition from the original Bed Bath and Beyond stores with a tighter focus on Seasonal Home Decor, Bedroom furnishings, and Bath and Laundry products,” chief of staff at The Brand House Collective, Starr Hudgens, told CBS News recently.
Customers will also be able to use Bed Bath & Beyond coupons at the new Bed Bath & Beyond Home stores.
At least four more Bed Bath & Beyond Home stores are coming Nashville soon and an “opening strategy for 2026” is underway, according to Hudgens.
Other retailers are continuing to manage bankruptcies this year.
Rite Aid is closing 40 more stores in one state this month after it filed for its second bankruptcy filling in May.
Similar to Bed Bath & Beyond, Big Lots is also reopening some stores after it went under last September.
