Things get tough for Carol (Joan Blondell) and her showgirl pals (Ruby Keeler, Aline MacMahon) when the Great Depression kicks in and all the Broadway shows close down. Wealthy songwriter Brad (Dick Powell) saves the day by funding a new Depression-themed musical for the girls to star in, but when his stuffy high-society brother finds out and threatens to disown Brad, Carol and her gold-digging friends scheme to keep the show going, hooking a couple of millionaires along the way.