A chance discovery of a news article on a former schoolmate, Julia Lipcott, triggers a flood of memories for Carmel McBain, who reflects back on her experiences at school and university, and her relationships with Julia and another contemporary, Karina.

Class differences also separate the two girls: despite the fact that they both come from working-class families, Karina's parents are even poorer than Carmel's.

Carmel shares a room in a hall of residence with Julianne, who later changes her name to Julia; while Karina stays with Lynette, a wealthy only child.

Carmel's university existence is marked by extreme poverty and hunger, while Karina somehow manages to subsist on even fewer resources.

Author Margaret Atwood championed the book in a review in The New York Times when it was first published in the U.S., stating that the "pleasures of the novel [...] are many".