Marcus Lemonis Ordered to Pay $14 Million in Arbitration

An arbitrator has ordered Marcus Lemonis to pay more than $14 million to a group of business owners who appeared on the CNBC reality show "The Profit." The ruling, issued by retired judge Ariel Belen, found that Lemonis violated the terms of a 2021 settlement agreement that barred him from making statements that could harm the reputations of the participating companies.

The arbitration award was filed in New York State Supreme Court as part of a petition to enforce the ruling after Lemonis failed to pay within the required 30-day period. The dispute centers on negative comments Lemonis made roughly a year after the 2021 settlement was reached. Lemonis, who recently became the CEO of Bed Bath & Beyond, has not yet filed a response to the petition.

Arbitrator Ariel Belen ordered Marcus Lemonis to pay a total of $14.1 million to 47 parties. The award breaks down as $100,000 for each of three violations, multiplied across the 47 parties involved. The decision was issued in late November following a hearing that took place in May 2025.

In the 98-page decision, Judge Belen was critical of Lemonis' conduct during the proceedings. The arbitrator concluded that Lemonis' "disdain for the respondents, complete disregard to his obligations in the settlement agreement, and apparent lack of concern for the harm suffered by respondents were all put on full display during the arbitration hearing."

The petition filed in New York state court alleges that Lemonis failed to pay the award after the 30-day deadline lapsed. The document seeks a judge's order to make the arbitration ruling enforceable. As of the filing, a New York state judge has not yet ruled on whether to confirm the award.

The current arbitration award is tied to a 2021 settlement involving 40 companies that alleged harm from appearing on "The Profit." That original settlement, which involved Lemonis and NBCUniversal, totaled $11 million. Under the terms of that agreement, the small business owners and Lemonis were prohibited from disparaging each other.

Business owners claimed Lemonis violated this agreement when he spoke about them negatively starting in November 2021. In a statement made in December 2021, Lemonis said, "In the ten years of making 'The Profit,' I probably — from people who were just dumb or people that had bad character — I probably lost $50 million."

Issues regarding the show's impact on businesses date back to its early years. As early as 2013, a business owner hired an attorney to prevent NBCUniversal from airing their episode, claiming it contained misrepresentations. Two years later, another business owner sent a letter to NBCUniversal alleging fraud and defamation.

More than 50 businesses have filed lawsuits, engaged in mediation, or settled regarding alleged harm from appearing on the show. During the May arbitration hearing, business owners testified about the financial and emotional toll of their participation.

Michael Kilchenstein, founder of the ski company RAMP Sports, testified that the company's main investor instructed them to shut down after Lemonis allegedly reneged on a deal agreed to during filming. "This whole thing has been the most stressful, painful thing I've ever been through," Kilchenstein testified.

The 2021 settlement previously paid $275,000 to each of the 40 companies involved. The recent arbitration award adds to the financial liabilities Lemonis faces regarding the show, which ran from 2013 to 2021 and featured over 100 small businesses.

Lemonis and his legal team at Latham and Watkins have until early February to file a response or opposition to the petition seeking to confirm the arbitration award. As of the filing date, they had not yet filed a response.

Lemonis and his attorneys did not respond to multiple requests for comment regarding the ruling. The petition was filed in state court one month after the arbitration award was issued, alleging that Lemonis failed to pay the $14.1 million.

Recently, Lemonis stepped down as CEO and chairman of the board at Camping World on January 1. Earlier this week, Bed Bath & Beyond, the home goods retailer that went bankrupt in 2023, announced that Lemonis would take over as CEO. Lemonis also debuted a new show on FOX last year called "The Fixer," which has a similar premise to "The Profit."