Police are appealing for witnesses following an alleged robbery on Waterside yesterday afternoon (Tuesday)
The incident occurred at around 4.50pm when the four victims, aged between 14 and 16, were approached by five males, believed to be wearing tracksuits.
They are alleged to have threatened them and made them hand over cash, bank cards and mobile phones.
The group of males are understood to have made off from the scene in the direction of Holy Trinity Church just off the canal towpath.
Officers attended and arrested two teenage boys, aged 15, in Bancroft Gardens and on Bridge Street. They were arrested suspicion of robbery and carrying a bladed article in a public place.
One remains in custody, while the other has been released under investigation.
Inspector Ian Williams said: “This was understandably a frightening experience for the victims who were left shaken following the incident.
“While we have arrested two people, we are still trying to identify a further three suspects and would ask anyone who witnessed the incident or was in the area at the time of the incident to please get in touch.
“Any information no matter how small could help with our ongoing investigation.”
Anyone with information should call 101 or Crimestoppers anonymously on 0800 555 111 quoting incident 278 of 11 August.