Rangers have made a disappointing start to the 2017-18 Championship campaign.
The London club are 14th in the league table at the moment with 14 points from 12 matches.
QPR are just four points above the relegation zone and six points behind Leeds United, who are currently sixth in the standings and occupy the final playoff spot.
According to The Sun, QPR will make a decision on the future of Holloway next week, and that the manager needs his side to win against Bolton Wanderers next weekend.
It has also been reported that Rangers could make a move for Kenny Jackett as Holloway’s replacement.
Jackett, now in charge of League One club Portsmouth, was hugely successful during his time at Wolverhampton Wanderers.
The 55-year-old was appointed in his current role at Portsmouth only in June, and it will be interesting to see if he can be convinced to leave it so soon.