Police received a report of a stabbing on Market Street shortly before 4pm on Friday. Emergency services attended to the man at the scene before he was taken to hospital where he later died.
Three 16-year-old boys have been arrested on suspicion of murder.
Detective Superintendent Lewis Hughes said that it has been a “fast-paced” investigation.
He said: “This has been a fast-paced investigation and I am pleased to say detectives have made three arrests overnight in connection with his death.
“Although they remain in custody for questioning our investigation is still in its initial stages.
“This incident occurred in broad daylight so it is highly likely there are members of the public who witnessed the assault or may have mobile phone footage.”
GMP has asked anyone with any information to contact them on 0161 856 0027 quoting incident reference 1940 of 11/03/22.