Toys R Us is planning to either close or sell all of its more than 800 stores across the U.S.

The company is shopping a plan that could ultimately save roughly 200 stores from going dark if it's able to find a buyer. This would be in conjunction with saving the Canadian business.

Toys R Us had already begun liquidating about 180 stores, under both the Toys R Us and Babies R Us banners, as part of its restructuring efforts to revive the business. The retailer filed for bankruptcy protection last September, weighed down by nearly $5 billion in debt.

Most recently, the company has struggled to pay on loans, and lenders had been pushing management to pursue a complete liquidation of the U.S. business.