Beyond, Inc. (NYSE:BYON) has issued the following statement from Marcus Lemonis, Executive Chairman of Bed Bath & Beyond: We will not open or operate retail

Despite denying that his decision not to open physical Bed Bath & Beyond locations in California was for political reasons, Lemonis previously pursued political ambitions. He graduated from Marquette University in Milwaukee with a degree in political science, and in 1996 ran unsuccessfully for a seat in the Florida House of Representatives.

Bed Bath & Beyond is poised for a comeback, but don’t expect any new stores in California, the company announced Wednesday. Executive Chairman Marcus Lemonis said the decision isn’t political — it’s a response to the state’s unfriendly business environment.