A young man who was stabbed in a mall parking lot in Brampton has been pronounced dead after being rushed to hospital, police said.

Peel region officers currently have a suspect in custody and homicide investigators are probing the incident, which occurred just after 5 p.m. at the Bramalea City Centre mall.

Along with one key suspect, police have also taken four others into custody for questioning, according to reports from the scene.

Police said the stabbing unfolded after "an altercation between two groups of male teens" at the mall. Following the melee, one group of five young males ran away, according to reports.

Officers arriving at the scene have found a knife in the mall's parking lot not far from a white car, which is believed to be linked to the incident. All of the doors on the vehicle were open when police arrived.

Peel Regional Police Const. George Tudos confirmed to reporters that the victim died at Brampton Civic Hospital on Saturday evening. He had been transported to hospital without vital signs.

No names have been released in the case, and it's believed that those involved could be under the age of 18, meaning the release of their identities is prohibited by law.