Construction was carried out between 1977 and 1979 by Haymills Contractors Ltd with Carr And Angier theatre consultants providing planning advice and design/installation of all technical systems and equipment.

Due to financial problems dating back to the mid 1990s, the operating company closed the theatre in 1999 and was dissolved.

The New Wolsey Theatre Company is a registered charity with a stated mission of presenting high quality, diverse and accessible work, and operates on a not-for-profit basis.

It’s renowned for staging world premieres and landmark revivals of musicals including 20th Century Boy,[3] It’s a Wonderful Life, Made in Dagenham, Never Lost At Home, Once, Our Blue Heaven, Sweet Charity, The Who’s Tommy (UK Theatre Award for Best Touring Production), Kinky Boots, Footloose and for its annual Rock ‘n’ Roll pantomime.

Since its reopening as a producing theatre, The New Wolsey has developed a recognisable house style of actor/musician productions - particularly through their Rock 'n' Roll Panto.