The Globe Theatre was a theatre in London associated with William Shakespeare. It was built in 1599 by Shakespeare's playing company, the Lord Chamberlain's Men, and was destr … oyed by fire on 29 June 1613. A second Globe Theatre was built on the same site by June 1614 and closed in 1642.he pit was a name for the area immediately surrounding the stage. The tickets for the Pit were and are the cheapest, because there are no seats. You have to watch the play standing up. You get a really close view of the stage, which enables you to be spat upon and maybe worse by the actors.