In what is being probed as a possible gangland hit, at least two men are dead and two others are in hospital after gunfire broke out at a high-end clothing boutique in Old Montreal.

Police are now searching for two shooting suspects, who had covered their faces with white bandanas before opening fire Thursday afternoon.

At least one of the suspects was wearing a dreadlocked wig, and both were spotted walking quickly from the scene just after the shots were heard. Both men were said to be shedding disguises as they fled.

Later, police found the dreadlocked wig nearby on the sidewalk.

None of the victims have been identified, but the man who died on the scene is believed to be in his 30s. The second victim, who died after being rushed to hospital, is in his 20s.

Officers aren't releasing much information about the incident.

"There's a lot of information out there," said Const. Olivier Lapointe. "We're still examining our databases to ensure our information is reliable."

The two other victims are in serious but stable condition, said Lapointe.

The incident occurred at around 1:45 p.m. at the Flawnego clothing boutique, which is located on St. Jacques Street in the city's historic financial precinct. The store bills itself as un upscale fashion boutique.

Police sources told The Canadian Press that the violence may be linked to the murder of Nick Rizzuto -- the son of Vito Rizzuto -- who died three months ago. No arrests have been made in that shooting, and it had been feared that the slaying would lead to violent reprisals.

Vito Rizzuto is an alleged mob boss with ties to Sicilian crime syndicates, and is currently serving a decade-long prison term in the U.S. for racketeering.

Robert Bilodeau, who works in the area, said that he saw drops of blood inside the store just as police arrived. However, he did not hear any gunshots before hand.

"There was blood in the lobby," said another man, who didn't want his name used.

"There were about 15 drops of blood in the exterior lobby … As big as quarters."

St. Jacques Street was shut down and there were a number of police officers on the scene Thursday afternoon, reported CTV's Montreal Bureau Chief Genevieve Beauchemin.

She added that many shoppers and staff had to wait inside for about an hour as police ensured that the streets were safe.

"A lot of people were told to stay in the stores in the aftermath of the shooting," she said.

Beauchemin added that one of the victims suffered more serious injuries than the other two.

"They're trying to discover what the motive may have been here," she said.

"They do believe that all the shots were fired inside this store."

With files from The Canadian Press