The Bolton News website said the players were refusing to report for training until they, coaches and the club's non-football staff were paid March wages due last Friday.
February wages were also paid late amid talk of a takeover of the relegation-threatened Championship club. Bolton players staged a similar strike last year.
The BBC said Bolton are also due to appear in the High Court on Wednesday over an unpaid 1.2 million pounds tax bill and other debts.
There was no immediate comment from the club.
A founder member of the Football League in 1888, and four times FA Cup winners, Bolton finished sixth in the Premier League in 2005 and qualified for European competition before relegation in 2012.
(Reporting by Alan Baldwin, editing by Ken Ferris)
