Speaking to the Leinster Express, the jeweller recounted how he thwarted the armed thief as he tried to get away with a bag-full of jewellery and diamonds, having tied up two female staff.

"They were tied up at their hands and feet and were told to lie on the ground. One of our girls is pregnant," he said.

Shortly after that the two intruders emerged, with one of them pointing the gun at Gerry.

When the jeweller saw the second intruder trying to make off with a bag full of valuable goods, instinct took over and he grabbed him.

"My brother-in-law, Phil Duggan, who runs The Square Meal restaurant across the road, came out with his chef. The three of us held him on the ground. Then Kevin Fitzpatrick and Shane Conroy from Blue Sky Mortgages came out and helped us to hold on to him," Gerry said. "He was squealing and squawking like a badger".

The man armed with the gun ran off down Main Street and was last seen near Hume's Auctioneers, while gardai quickly arrived on the scene and detained the suspect. The arrested man, a 25-year-old Polish national, was brought to Portlaoise garda station.

He was detained under Section 30 of the Offences Against the State act. CCTV footage from the area is now being examined in an effort to identify the second raider, believed to be in his twenties.

"I am just glad that nobody was injured," Gerry concluded.