Fellow keeper Matt Gilks is still about six weeks away from returning from a knee problem of his own.
It means Richard Kingson is the only available keeper, but he is also nursing injuries of his own.
Premier League rules prevent players moving outside of a transfer window unless there are "exceptional circumstances", but the regulations are more flexible in the case of goalkeepers.
And Holloway is hoping to be allowed to follow the precedent set last season, when Manchester City were given permission by the League to bring in goalkeeper Marton Fulop on loan from Sunderland for the last three matches of the 2009-10 season.
"We are going to have to try," Holloway said. "Richard won't mind me saying this - he is probably more patched up than anybody I've got in my squad.
It's the worst thing in the world for him - we are all hoping that the physio has got it wrong, but I don't think so
Holloway on Rachubka injury
"He is a wonderful lad, but he was injured last week when he split his head open, and he had a bad knee the week before that. So I think we can easily prove that we are a little bit short and hopefully common sense will prevail.
"We reported it straight away and I'm sure we can prove we need another one in - it's just who, and from where."
On Rachubka's latest setback Holloway added: "He's come through those five or six months, got himself fully fit and then an injury in training, and he's gone - he might be out for another six months, we don't know yet.
"The symptoms are the same, it was caused by the same movement and it is in the same area, although it is not quite the same severity of swelling.
"My physio has told me he thinks he has done it again. It's the worst thing in the world for him - we are all hoping that the physio has got it wrong, but I don't think so."
Blackpool are currently 15th in the Premier League, only two points above the relegation zone.