Getaway car found after Melbourne hold-up

The car used in the daylight robbery of a Melbourne jewellery store has been located but five men are still on the run.

Police say the car was located in Collingwood, shortly after four men held up the Toorak store on Saturday.

A staff member at the jewellery struck on the head with the butt of a firearm as the group of robbers smashed glass cabinets and raided the store just before 1pm on Saturday.

They fled in a vehicle driven by a fifth man.

Police chased the vehicle for a short time before ending the pursuit a short time later.

The car was found abandoned in nearby Collingwood soon after.

The same store was robbed in October, when three armed, masked men smashed cabinets and stole jewels.