The Wall Street Journal reports the closings come after disappointing holiday sales.
The bankrupt retailer had already announced plans to close about 180 locations.
Toys 'R' Us closing stores
"The discussions about the store closings are continuing, and the number of closures could change," according to the paper.
The Journal also reports Toys "R" Us is now telling workers that there is no severance pay if they are let go.
Just last month, managers were instructed to tell employees the company would provide severance.