A GANG of robbers armed with machetes escaped with more than £50,000 in a raid outside a Burnley store.

Security guards were targeted near the Spar shop at the corner of Brunshaw Road and Brownside Road at about 2pm yesterday.

Police said the guards, working for Securicor, were delivering notes to a cash machine outside the store.

No-one was injured in the robbery but the company has offered a "substantial" reward for information leading to the robbers' capture.

Detectives were today hunting the four-strong gang, described by several eye witnesses as white men in their mid-20s.

Paul Horrocks, 38, described how three of the robbers, all wearing ski masks and carrying machetes, attacked the security van before speeding off in a black Golf GTi driven by a fourth man. He said: "I saw blokes in ski masks and one of them was banging on a Securicor van.

"The next minute I looked up and they had jumped into a black VW Golf GTi car and sped off.

"Then they drove off up Brownside in the direction of Worsthorne.

"The whole thing just happened so quickly, it was over in a flash."

Another eye-witness who saw the robbers speed from the scene described how they took off their masks and laughed as they drove away.

Det Insp Steve Chard, of Burnley CID, said: "We are investigating a robbery on a Securicor van at the Spar shop. At this stage we believe the men were armed, possibly with machetes.

"They escaped with cash in excess of £50,000."

A spokesman for Securicor, said: "We can confirm that there was an attack on one of our couriers in Brownside Road. None of our staff were injured.

"Securicor deplores such incidents and is doing everything possible to assist the police with their enquiries.

"The safety of our staff and the public is of paramount importance and, as such, we are offering a substantial reward for any information leading to the arrest and conviction of those responsible for the attack."

The VW Golf was later found abandoned nearby.

Anyone with any information about the robbery is asked to contact Burnley CID on 01282 425001 or the confidential Crimestoppers line on 0800 555 111.

Spar declined to comment as the robbery did not involve the shop directly.

In June 2003 robbers escaped with £10,000 after a raid on a Securicor van at the same location.