A man has been seriously injured after being stabbed downtown on Sunday night.

Police said the stabbing happened in the area of Wellesley Street and Rose Avenue, just west of Parliament Street, at around 10:05 p.m.

The victim was stabbed during a fight with another man, police said.

He has been taken to a hospital in serious condition.

Sgt. Gregory Boltyansky said the suspect entered a convenience store and allegedly passed off counterfeit bills.

The suspect fled the store after the owner noticed the alleged fake bills, he said.

"The owner chased him, tried to engage with the suspect," Boltyansky said.

He said the suspect then allegedly used a "multi-tool" as a stabbing device and struck the owner in the neck.

"Citizens on the scene that were passing by saw this altercation and assisted the store owner and ultimately subdued the suspect," Boltyansky said.

When officers arrived, a knife was recovered, and the suspect was taken into custody, police said.

Boltyansky said police don't encourage citizens to put themselves in a situation where they could get injured. He said the best thing to do in situations like these is to call the police.

"In this case, it did turn out well, thankfully."

Wellesley St + Rose Av
- 2 people fighting
- 1 man stabbed
- Civilians holding suspect down
- Police o/s
- 1 man in custody
- Knife recovered
- Victims injuries not life threatening
- Investigating#GO491586

— Toronto Police Operations (@TPSOperations) March 9, 2020