A man, who was fighting for his life in hospital after being stabbed on Tuesday afternoon is now in stable condition, police say.

The incident happened in downtown Brampton in the Main Street South, Queen Street and Wellington Street area.

Police say that the man went into a retail establishment after being stabbed and EMS was called. 

Peel Regional Police said that they were called to the scene just before 1:30 p.m.

There, officers located an adult male who had been stabbed.

Police later said that the victim's injuries were life-threatening.

Paramedics told CP24 that they transported a male to a Toronto trauma centre in critical condition.

Police have not provided any suspect information at this time, nor have they recovered a weapon. 

People are, however, advised that there is a large police presence in the area and are being asked to stay away.

More to come. This is a developing story.