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Services Held for 99 Cents Only Founder

LOS ANGELES Funeral services have been held here for Dave Gold, founder of 99 Cents Only Stores, who died last week at the age of 80.


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Gold founded the chain in 1982. According to local reports, he had been working in his father's liquor store and noticed that when he put an item on sale for 99 cents, it would move quickly, and he thought it would be fun to have a store where everything had that price.

99 Cents Only Stores went public in 1996; it was acquired in late 2011 — when it was operating more than 300 stores in California, Arizona, Nevada and Texas — by a consortium of private investors led by Ares Management here and the Canada Pension Plan Investment Board, along with members of the founding family.

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