One of the most well-known companies in the country announced that it would no longer have brick and mortar businesses in California due to overregulation and creating an environment hostile to business.

Bed Bath and Beyond CEO Marcus Lemonis announced the decision on Wednesday, saying that California’s government undermines the interests of the company’s customers and shareholders.

“We will not open or operate retail stores in California.

This decision isn’t about politics — it’s about reality. California has created one of the most overregulated, expensive, and risky environments for businesses in America. 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 in a press release.

California Governor Gavin Newsom responded to the news on X, saying that they thought Bed, Bath & Beyond ‘no longer existed’. (RELATED: Democrat Governor Authorizes the Administration of Financial Aid to Illegal Immigrants)

“After their bankruptcy and closure of every store, like most Americans, we thought Bed, Bath & Beyond no longer existed. 

We wish them well in their efforts to become relevant again as they try to open a 2nd store” His press office said.

California, which once was competitive with cities such as New York for hosting Fortune 500 company headquarters, has seen hundreds of major companies leave in the last two decades.

From just 2011 to 2021, 789 major companies left California, including giants like Chevron, Oracle, and Tesla.

The exodus of businesses from family has been a driver of its population loss, and the state continues to lose hundreds of thousands of people every year to states such as Arizona, Texas, and Oregon. (RELATED: “Out of Touch” Wisconsin Supreme Court Justice Blasts Potential Opponent)