There has been a creaky murder mystery that went wrong, a catastrophic Peter Pan and a chaotic A Christmas Carol. Next will be a deliberately disastrous magic show co-created by Penn and Teller and co-produced by JJ Abrams.

Mischief Theatre, the creators of the hit West End and Broadway show The Play That Goes Wrong, will announce the next “Goes Wrong” comedy on Thursday.

It will be called Magic Goes Wrong and will see the original Mischief company playing a hapless group of magicians attempting to raise money at a charity event.

The collaboration continues the stratospheric rise of Mischief Theatre, a company whose roots are in three struggling actors playing to sparse audiences above a pub in north London.

Founded in 2008 by friends and Lamda (London Academy of Music and Dramatic Art) graduates Jonathan Sayer, Henry Lewis and Henry Shields, the company also recently announced a six-part BBC comedy called The Goes Wrong Show.

The new play has been co-written with two of the world’s best-known magicians, Penn & Teller, the longest running headlining act in Las Vegas history as well as numerous TV shows.

Penn Jillette, the big and loud one, and Teller, the short and silent one, were in the audience for performances of The Play That Goes Wrong at the Duchess Theatre in London and they got chatting to a producer who said that the Mischief team were huge fans.

“Somewhere through that it was decided that we should all meet up for pancakes in Vegas,” said Sayer. “It is as surreal as it sounds. We decided yes we could do that!”

They were in New York at the time and flew down to Vegas and straight away hit it off.

Sayer said they had played around with a magic goes wrong show years ago at the Edinburgh festival fringe. “We talked about how we loved doing that show and the thing that we really lacked was any full understanding of how to do anything that was seriously magic and wonderful.

“It immediately became clear that we got on very well and they are an absolute cavern of knowledge when it comes to how magic is done, and also how performance is sculpted. They are incredibly interesting.”

Since then, Mischief have been sporadically flying to Vegas and working with the pair on the idea.

The result is a show that will see characters who have a range of magic styles, so a classic magician with doves and such like, a mind reader, an American jeopardy magician, a more circus-type double act and an ancient quick-change artist.

There will be lots of stuff that goes catastrophically wrong but also some “genuinely dazzling and cool” magic which people will have no idea how it is done, said Sayer.

Penn & Teller are not performing but will be closely involved in the rehearsal process.

Teller said: ‘“When our own magic has gone wrong, we were miserable. But when it’s somebody else, it’s hilarious. So this seems like the perfect project for Mischief and us. We’re huge fans of theirs, so collaborating with them was a privilege and an astonishment. Any idea we’d pitch them, right on the spot they’d turn it around and make us double over laughing. We’ve very proud of the results and hope you enjoy the show.”

A big player in the unstoppable rise of Mischief Theatre is one of the most powerful men in Hollywood, JJ Abrams, who was in London filming Star Wars when he randomly came across The Play That Goes Wrong.

He helped secure its Broadway transfer and is a co-producer on the Magic Goes Wrong show in London.

Abrams said: “I am a nearly lifelong fan of Penn & Teller and working with the Mischief Theatre Company has been pure joy. I expect all that to change with this new production.”

Magic Goes Wrong, which begins previews in December, will be the second of three productions in Mischief’s year-long residency at the Vaudeville Theatre. It begins in September with a new play called Groan Ups. Tickets go on sale on Friday.