A GANG armed with iron bars and baseball bats terrified security guards in Bolton town centre before escaping with £8,000.

The three masked thugs struck as a delivery of money was being made to fill cash machines at the Nationwide building society in Newport Street last night.

Two guards were threatened with iron bars and bats behind the building, in Back Cheapside, at 7pm and handed over cash boxes being delivered to fill ATMs.

A getaway car, possibly being driven by a fourth man, was driven to Wood Street before being set on fire as shocked passers-by looked on.

Fire crews were quickly at the scene to prevent the flames spreading to nearby buildings.

The men then clambered over a wall and fled on foot through the town centre and are believed to have got into a second car in the Silverwell Street area.

Detectives issued an appeal for information about what they last night described as a "calculated and well planned" robbery.

The drama began as a Securicor guard was taking empty cash cassettes from the building society to an armoured van when three men threatened to attack him.

He handed over the cash boxes but the raiders realised they contained no money and told the second guard in the van that his colleague would be attacked unless they were given money.

They were handed a box of notes containing £8,000.

As the gang tried to speed off from the scene in a stolen Honda Civic Type-R, they were blocked by a Post Office van parked at the end of Back Cheapside.

The van was attacked with an iron bar before the gang drove off.

CCTV footage is being studied today by police in a bid to find clues.

Det Sgt Ray Sherlock of Bolton CID said: "This was clearly a well calculated and well planned robbery by people who obviously knew that this vehicle would be arriving and at what time.

"They threatened a security guard on foot and found that he had no money and then told a man in the van that his colleague would be hurt unless they were given cash.

"Although nobody was injured, these men threatened violence and we are very keen to speak to anybody who witnessed anything.

"In particular, we are keen to hear from anybody who saw the men getting into a car around Silverwell Street.

"This happened in a town centre at a busy time of the evening and I am confident that somebody will have seen something which can help out investigation."

Anybody with information is asked to contact Bolton CID on 0161 856 5740 or Crimestoppers anonymously on 0800 555 111.