99 Cents Only Stores Inc., which was planning to close its 48 unprofitable stores in Texas, said its board chairman, Dave Gold, has offered to acquire those stores himself.

The City of Commerce-based discount-store retailer said late Monday that it is temporarily suspending its “wind down” process in that state. The company’s board has formed a special committee of independent directors to consider Gold’s proposal as well as other alternatives, 99 Cents Only said. How much Gold is proposing to pay for the stores was not disclosed.

The company has been struggling to maintain its low prices in the face of rising commodity and energy costs, and recently announced that it would raise its top price for items to 99.99 cents.

99 Cents Only shares were down 38 cents, or 3.5 percent, to $10.26 in morning trading on the New York Stock Exchange.