One man is in serious condition after apparently being stabbed by a panhandler downtown. The attacker, and two others, reportedly received minor surface cuts during the attack.

Early reports say the pedestrian was walking near Queen Street West and Gore Vale Avenue at about 12:30 a.m. when the "panhandler or squeegee kid" asked him for money.

The 32-year-old man was apparently attacked after he refused to hand over any cash. He was stabbed multiple times in the chest and back and remains at St. Michael's hospital in serious condition.

While details of the altercation are still not clear, it's alleged two other panhandlers, possibly friends of the culprit, also got involved in the fight. All three sustained surface cuts.

Police are retrieving evidence from a taxi cab that was splattered with blood after the altercation. The seriously injured man may have tried to escape his attackers by fleeing in a taxi.

"He tried to get into the cab and the cab was still moving," one eye-witness told CTV News.

Investigators learned of the injuries sustained by the panhandlers after they admitted themselves to hospital, police said.

All three are considered suspects in the case. No names have been released.

Authorities closed down Queen Street West between Niagara and Trinity Streets during their early-morning investigation.

Police are continuing their investigation. No charges have been laid.

With a report from CTV's Galit Solomon