Hobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September.
Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us.
One of the stores on the list is the location in Northwest Fresno near Shaw and Marty Avenues.
Brandon said that the majority the targeted stores will be closed by mid-April and that there will be deep discounts at those locations.
Toys R Us is based in Wayne, New Jersey.
The Associated Press contributed to this report