Recently widowed well-to-do Laura Henderson purchases the Windmill Theatre in London as a post-widowhood hobby. After starting an innovative continuous variety review, which is copied by other theaters, they begin to lose money. Mrs Henderson suggests they add risqué burlesque acts similar to the Moulin Rouge in Paris.

Richard Duke of Gloucester, youngest brother of King Edward IV, will stop at nothing to get the crown. He first convinces the ailing King that the Duke of Clarence, his elder brother, is a threat to the lives of Edward's two young sons. Edward has him imprisoned in the Tower of London; killers in Richard's pay then drown Clarence in a barrel of wine. When news of Clarence's death reaches the King, the subsequent grief and remorse bring about his death. Richard is made Lord Protector, with power to rule England while his nephew (now King Edward V) is still a minor. Before the young king's coronation he has his two nephews conveyed to the Tower, ostensibly for their safekeeping. Richard's accomplice, the Duke of Buckingham, then declares the two boys illegitimate and offers Richard the crown, which after a show of reticence he accepts. After Richard's coronation, he and Buckingham have a falling-out over whether or not to assassinate the two children.

Twelve-year-old Jude has never met Dick, his father. One Sunday afternoon Dick impulsively engineers a meeting, which has distressing consequences.