Bed Bath & Beyond Home opened its first store in Nashville earlier this month and the company is pursuing additional brick-and-mortar locations. California will not receive retail stores from Bed Bath & Beyond because the state's regulatory environment, higher taxes, higher fees, higher wages, and extensive regulations are described as making it nearly impossible for businesses to succeed. California's minimum wage is $16.50 an hour. California ranked as the most expensive state to start a business, with the most regulations, the third-highest corporate income tax rate, and the second-highest average commercial rent, per CNBC. Customers in California will be offered 24- to 48-hour delivery for online purchases, with same-day service possibly available. Bed Bath & Beyond previously operated more than 300 locations and entered Chapter 11 proceedings in April 2023.
Serial entrepreneur Marcus Lemonis is helping lead Bed Bath & Beyond's comeback as the company's executive chairman (Bed Bath & Beyond Home opened its first store in Nashville earlier this month). And now, he's looking for more brick-and-mortar locations. On Tuesday, Lemonis asked his 1.3 million followers on Instagram: "What city/town should the next @BedBathBeyond open?" But by Wednesday, he made it clear that there's one state where the home retailer definitely will not be opening: California.
"We will not open retail stores in California," Lemonis wrote on Instagram. "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 customers in that position." In a press release, Lemonis elaborated, calling California "one of the most overregulated, expensive, and risky environments for businesses in America."
Lemonis called out what he said is the state's "higher taxes, higher fees, higher wages" and endless regulations that strangle growth. California's minimum wage is $16.50 an hour. Earlier this year, California was ranked the No. 1 most expensive state to start a business (New York was a close second), with the most regulations in the country, the third-highest corporate income tax rate, and the second-highest average commercial rent, per CNBC.
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