Leicester City and West Ham are thought to head a list of suitors for a player who scored 35 goals last season.
It was expected the talented striker would move to the Foxes after Posh chairman Darragh MacAnthony said on Friday a deal was looking imminent.
But QPR are now also thought to be in the running though and Fry has now revealed he is waiting on an answer from the Scotland international.
With Peterborough unable to make market moves of their own until the transfer has been sorted, Peterborough director of football Fry admits he is becoming increasingly frustrated by the situation.
"I can tell you that the chairman Darragh MacAnthony has accepted three bids and given three clubs permission to speak to Craig and his agent, two of those clubs, West Ham and Leicester have spoken to them," he told Talk Sport.
"Prior to that Neil Warnock at QPR was given permission to talk to him but I haven't spoken to Craig for three days so he obviously hasn't agreed terms with West Ham or Leicester.
"There are seven other bids that we've turned down that are very substantial, four other clubs have been on to me to say that they're selling their centre forward for so much and they want to put half of that into buying Craig, things like that.
"We've given Craig the opportunity to speak to three clubs and as of yet he's not decided to go anywhere which is very frustrating from our point of view.
"The boy scored 35 goals in the league last year, he's got 99 goals in four seasons with Peterborough, the chairman said stay another year help us get back into the Championship and we won't stand in your way.
"We were hoping that he'd be gone by now because we've got targets as well that we're trying to get in."