Home goods retailer Bed Bath & Beyond announced it will not open stores in California as it plans to reopen locations in the country, describing the Golden State as one of the most “…risky environments for businesses in America.”

In a scathing statement released by its executive chairman Marcus Lemonis, the retailer said its decision “isn’t about politics” but about “reality. Lemonis also described California as overregulated and expensive.

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“It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers,” the statement said.

“The result? Higher taxes, higher fees, higher wages that many businesses simply cannot sustain, and endless regulations that strangl

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