Shots were fired during the course of an incident that was first reported as a robbery at a money transfer business in George Town Thursday night.
Royal Cayman Islands Police said the reported robbery occurred at the MoneyGram store in Meringue Town Plaza.
Police said no one was hit by the gunfire, and that it was not immediately clear if any money was taken from the store.
Officers said the incident was called in around 7.30pm at the location on Boilers Road. Police said three masked men entered the building carrying firearms.
The men were allegedly in the midst of threatening staff and customers when someone apparently locked them inside the business by closing the hurricane shutters outside the premises.
Police said the armed men, realising they were locked in, shot through the glass door and kicked open the storm shutters. All three suspects then ran from the scene.
Officers set up roadblocks in the area, but no arrests had been reported by midnight.
Anyone with information about the incident is asked to call George Town police station Criminal Investigation Department at 949-4222 or Cayman Crime Stoppers at 800-8477.