One person made it to shore and was checked over by paramedics.
A search is ongoing for the other two people.
Coastguard rescue teams from Lytham and Fleetwood, the coastguard search and rescue helicopter from Caernarfon, RNLI lifeboats from Lytham St Annes and Blackpool, Southport independent lifeboat, Lancashire Police and North West Ambulance Service were all sent.
The search was suspended briefly in the early hours and continued at first light. The coastguard helicopter is no longer on scene and a police helicopter has joined the search.
We have no further information at this time.