Why Bed Bath & Beyond won't open new stores in California

(NewsNation) — Bed Bath & Beyond is aiming for a comeback, but it says not to expect any new stores in California.

Executive Chairman Marcus Lemonis said the decision isn't political — it's a response to the state's unfriendly business environment.

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

Lemonis said the retailer will have stores in "almost every other state" in a response on X.

Wednesday's announcement comes as the housewares store tries to stage a comeback two years after filing for bankruptcy.

Earlier this month, the first revamped Bed Bath & Beyond Home s