Police were called to Walnut Street in the town at shortly before 4pm on Sunday (April 4) to a report of an assault.
A man in his 50s was taken to hospital with a number of stab injuries described as serious. His condition is stable.
Following a number of enquiries, two men – aged 22 and 24 and both from Blackburn – were arrested on suspicion of attempted murder this morning. They are both currently in custody.
Detectives are continuing to appeal for anyone with information or anyone with mobile phone, dashcam or CCTV to come forward.
Det Sgt Steve Craig, of East CID, said: “This incident has left a man with some very serious injuries and he is lucky to be alive.
“While we have now made two arrests, our investigation is very much ongoing and I would appeal to anyone who saw what happened, has captured any footage or who has any information which could help us identify the offenders to come forward urgently.”
Anyone with information should contact police on 101 quoting log 1092 of April 3rd.
Alternatively contact independent charity Crimestoppers on 0800 555 111.