Three men who pulled off a daring armed robbery are still on the run with watches and rings worth about £400,000.

A getaway car used by the gang, who were armed with sledgehammers, was found less than a mile away from the crime at the Ilkley branch of jewellers Lister Horsfall on the corner of Brook Street and The Grove at about 10.10am last Thursday.

Last night, investigating officers confirmed a Wakefield man was arrested in connection with the robbery, but has subsequently been eliminated from the enquiry and released without charge.

But the three men who carried out the raid have still evaded capture despite police attempts to track them down and the efforts of store manager Sam Brown, who tackled one of the masked robbers after they used sledgehammers to force their way into the shop.

Mr Brown confronted one of the raiders who dumped Rolex watches and diamond rings in a holdall after demanding staff open up locked displays.

The 30-year-old then fought with one of the escaping raiders in the street, before he was threatened with a sledgehammer by an accomplice and let the robber go.

The raiders and their getaway driver, described by police as a white man, about 30 years old and slim with a shallow complexion and a high forehead, wearing large black rimmed glasses and black clothing then sped off up Wells Road in a blue Fiat Punto.

Officers later discovered the car in Ilkley Hall Park – and believe it was abandoned about 15 minutes after the robbery as the gang got into another vehicle to escape.

One of the robbers who forced his way into the shop carrying a sledgehammer is described as a man, around 5ft 10ins tall and stocky, wearing a balaclava and a dark bomber jacket and trousers.

The second raider who went into the shop also wore similar clothing and appeared to be a similar height.

Experts from Airedale and North Bradford CID, carried out forensic tests on Fiat Punto, while officers have been looking at CCTV footage from nearby shops and going through witness statements as they hunt the robbers.

A police helicopter, seen hovering above Ilkley about 40 minutes after the raid, was also used, but the gang have so far escaped capture.

Detective Inspector John Priestley, who is leading the police investigation, said officers from the Ilkley Neighbourhood Policing Team had stepped up reassurance patrols in the town centre the day after the raid.

“Offences of this kind are extremely rare in the Ilkley area and an investigation into this robbery is underway by a team of detectives,” he said.

"Forensic and CCTV enquiries are ongoing and extra uniformed officers are also patrolling in the area to reassure residents and conduct investigations.

"We would particularly like to speak to anyone who saw a blue Fiat Punto linked to the offence being abandoned in Ilkley Hall Park and three men in dark clothing in that area or in the area of Crossbeck Road.

“It is likely the men would have had another vehicle parked nearby.

"Also, anyone who saw men in dark clothing or this car shortly before the robbery took place at 10.15am should contact Airedale and North Bradford CID on 0845 60 60 606 or CrimeStoppers on 0800 555 111." Mr Brown, who was bruised in the incident but otherwise uninjured, described the moment he fought with a robber.

He said he was thinking about his colleague when the incident happened and was not a hero.

“I was just more concerned about Rachel,” said Mr Brown, who has worked for Lister Horsfall for 11 years.

“Two guys came in with sledgehammers. They used a sledgehammer to get through the door.

“They got quite a lot of Rolex watches and diamond rings. We had a bit of a struggle and I chased them into the street.

“They went off in a blue Punto.”

Mr Brown said despite his efforts he was fine and hopes the police catch the robbers.

“I’m alright. It’s just sickening,” he said.

“If anyone saw anything I hope they get in contact with the police.”