 On the other hand, Bloomberg suggested that millennial shoppers prefer to make purchases online, or direct from various brands' own stores, and that HBC "has yet to offer something they can't find somewhere else and risks drifting into irrelevance".In February 2020, shareholders of the company voted in favour of a plan to become a private company at a special meeting of shareholders.Under the plan of arrangement, the company will be owned by a group of continuing shareholders led by HBC Governor and Executive Chairman Richard Baker.