Bed Bath & Beyond’s Executive Chairman Marcus Lemonis announced on Wednesday that the company won't open or operate retail stores in California, saying the decision isn't about "isn’t about politics – it’s about reality."

Lemonis said in a statement posted on X that the decision was driven by the fact that the company wouldn't be able to sustain operations in the state due to higher taxes, higher fees and higher wages coupled with "endless regulations that strangle growth."

"California has created one of the most overregulated, expensive, and risky environments for businesses in America," Lemonis said, noting that the state's policies created a system "that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers."

Lemonis said that the sta

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