The toy retailer has lost money in recent years and filed for bankruptcy last September.
Earlier this year, Toys R Us announced it was closing 180 of its more than 800 stores.
The toy giant has failed to find a buyer to help with their debt, and could liquidate all of its U.S. operations.
Mattel and Hasbro shares were down Friday morning after news of the potential closure.
Fox 47 reached out to Toys-R-Us for comment, but the chain did not give a statement.
6301 Bandel Road NW, Rochester, MN 55901
Switchboard: 507-252-4747 or 1-877-369-4788
News tips: 507-281-4747 or firstname.lastname@example.org