Executive President Marcus Lemonis told “The Big Money Show” that Bed Bath & Beyond will revive 300 stores nationally – to the exclusion of California – while exploding high costs, strict regulations and a low crime application.
Bath of bed & beyond Executive president Marcus Lemonis announced Wednesday that the company will not open or exploit retail stores in California, affirming that the decision “does not concern politics – it is reality”.
Lemonis said in a statement published on X that the decision was motivated by the fact that the company would not be able to maintain operations in the state due to higher taxes, higher costs and higher wages coupled with “endless regulations that strangle growth”.
“California has created one of the most started, the most expensive and risky environments for companies in America,” said Lemonis, noting that state policies have created a system “that makes people more difficult to use, more difficult to keep the doors open and more difficult to offer customers.”
The emblematic coupon of Bath Bath & Beyond is back, but there is a catch
Lemonis said that state budget surpluses are at the expense of “ordinary citizens who pay too much and businesses that are in a hurry until they break”.
Lemonis said that the company would not participate in a system which, according to him, undermines its customers and shareholders. But the company does not alienate its Californian customers. Instead, Lemonis said that the company is investing in a strategy that will allow Californians to obtain Bedbathandbeyond.com products which will be delivered between 24 and 48 hours. In many cases, a service the same day will be offered, said Lemonis, noting that it will help the company avoid “swollen costs created by an unsustainable model”.
Bath Bath & Beyond Accepted Coupons in Big Lots, the container store with bankruptcy
This occurs while the company in difficulty returns to relevance after its collapse in 2023 of increasing debt and several failed recovery strategies. Under his parent company, renowned for Beyond Inc. in Bed Bath & Beyond this week, the retailer returns to Brick and mortar stores With the first bed bed and Beyond Home Store opening in Nashville earlier this month.
“California has created one of the most regulated, most expensive and risky environments for companies in America,” said Bed Bath & Beyond, Marcus Lemonis. (Justin Sullivan / Getty Images)
In 2023, the original Bed Bath & Beyond deposited the bankruptcy of Chapter 11 and closed all physical stores after having read with problems such as “mismanagement of stocks, the slow adoption of online purchase trends and the depreciation of coupons purchases”, according to Reuters.
Overstock.com bought its brand, Domain and Other Intellectual Property for $ 21.5 million in June 2023 and then revived its website under the Bed Bath & Beyond by August. In November 2023, Overstock renamed his business identity like Beyond, Inc., but Kirkland’s Inc. finalized an investment agreement of $ 25 million with Beyond, which is also the parent company of the parent company Overstock, Zulily and Buybuy Baby, In February, allowing Kirkland to become the exclusive operator of brick and mortar and licensee for a new smaller format “district” bed and beyond the country.
Bed Bath & Beyond tries to return after having filed a record in 2023. (Scott Eells / Bloomberg via / Getty Images)
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Earlier this week, Lemonis said that the company had changed its business name in Bed Bath & Beyond, Inc. and that its ordinary shares will begin to negotiate under the symbol of Ticker Bbby on the New York Stock Exchange from August 29 when it seeks to emphasize what it says to be the “most precious elements of intellectual property that investors and consumers know today”.
The company’s objective is to develop the Bath Bath & Beyond brand while simultaneously builds Overstock.com “in a billion dollars” billion “and maximizing the value in its Tzero and Grainchain blockchain assets.
