£55,000 Selfridges Rolex raid

Security at Selfridges is being stepped up today after robbers took Rolex watches worth £55,000 from the Oxford Street store.

The gang escaped with several gold and silver watches late Friday afternoon when the department store was busy with customers.

Managers at Selfridges now hope the new security arrangements will not hit business in the run up to Christmas.

A spokesman said: "Everyone here is trying to get over what happened. It is extremely embarrassing for such a high-profile shop to be caught out like this and everyone is hoping it won't affect our Christmas trade."

Selfridges' insurers are expected to foot the bill. Although one of the stolen watches was recovered by police, store officials admit that the rest may already have found their way onto the black market.

Police have charged a 20-yearold man from Forest Hill in connection with the robbery, but are seeking others.

The store is the latest in the West End to fall victim to robbery and theft. In May, £1.5 million in cash and jewels was stolen from Versace's flagship store in Old Bond Street. An international manhunt was launched after the safe was emptied.

This month police turned to cyberspace in an effort to track down the owners of £2 million of stolen jewellery and antiques, some of it is believed to have been taken during an armed raid on Theo Fennell, the jeweller which supplies Victoria Beckham.

The items were recovered during an operation to target the handlers of stolen goods in London/