AN armed gang wearing masks and carrying sledgehammers and crowbars stole thousands of pounds in an early morning raid on a cash delivery.

Police said up to five men threatened two security drivers in a "calm and collected" manner as they dropped off money at a cash point in the One Stop Shop, in New Bank Road, Blackburn.

The gang is now being hunted by police after the incident at around 9am yesterday.

Det Insp Neil Ashton said a grey Mazda 5 four by four vehicle believed to have been used in the raid was discovered shortly after the robbery in a back alley off Granville Road.

It is thought the gang then made off in another vehicle.

The incident mirrors an armed robbery where a security guard was shot in the knee by two robbers while delivering cash to an ATM at the former Indigo Circle estate agents in Preston Old Road, Cherry Tree.

The raid in December led to some arrests but no-one has been charged in connection with the robbery.

DI Ashton said: "This was a very serious incident where sledgehammers and crowbars were used to threaten delivery staff and a quantity of money was stolen.

"I have now got a team of detectives working on the case and obtaining accounts from the victims and witnesses."

He said the gang were calm throughout the raid.

"They seemed quite calm and collected,” added DI Ashton. “There was no screaming or shouting and when they left the scene in the car witnesses have said they were not speeding and stopped at one junction waiting and indicated."

DI Ashton said that at this stage officers were not linking the raid to the incident in Cherry Tree in December.

Yesterday the shop in New Bank Road was sealed off while investigators completed a fingertip examination of the scene.

Police said two men working for G4 security were delivering the cash to the site when they were confronted by the gang.

At least three of the offenders went into the shop and forced them to hand over the cash.

Officers have not confirmed the exact amount of cash stolen but it is understood a number of cash boxex were taken.

The men were uninjured but police said they were left shaken.

The dark grey Mazda 5 four by four, had the registration number PE57 TMU.

Witnesses said they were shocked that such a violent incident happened in the street. At the weekend nearby Faisal Cash and Carry was raided by burglars.

Salim Patel, 42, who runs Flame takeaway next door, said: "There were some guys in masks who jumped out of the back of a Mazda, they took the money and then they were gone.

"Things are getting bad on the street because just a few days ago there was a burglary at another shop and there have been other incidents.

"It's a real worry because you wonder what is going to happen next."

Another shop keeper, Arshad Mahmood, 48, said he thought there had been four incidents of thefts from businesses in the street in the past six months.

He said: "This one is the most serious, but it's a problem here. There are so many bad incidents."

Anyone with information schould call 0845 125 3545 or Crimestoppers anonymously on 0800 555 111.