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As a revenge fantasy between a former school bully and her victim, Morgan Lloyd Malcolm’s 2015 drama sits squarely at the baroque end of the spectrum. Heather (Cassandra Hercules) was targeted by Carla (Serin Ibrahim), a former friend turned class-room oppressor whose campaign culminated in a shocking incident of abuse.

Several decades on, they meet, ostensibly to make amends, but Heather has a dark ulterior motive. It is clear the tables have turned in the interim: Carla is now the one oppressed by life, barely making ends meet, fielding a fifth pregnancy without any feeling of joy and in an unhappy partnership. Heather, by contrast, is a rich professional who fires sly broadsides at Carla, letting her know who came out on top.

There are plenty of rug-pulling plot twists in director James Haddrell’s production, albeit none of them feel believable or charged with genuine jeopardy. The performances are able enough, but something stilted remains, with a first act that ends prematurely, and a far longer second half that seems written in a different mode to the stylised first.

Initially, scenes are replayed from different angles, with waspish buzzing to indicate dangerous moments. But these non-naturalistic elements disappear after the interval, which leaves the parts detached.

Beneath the far-fetched – and extraneous – plotting are serious concerns about the mark that childhood tormentors leave and how this shapes adulthood. A metaphor of the tarantula hawk wasp that eats its victims’ insides might apply either to the violence of the bully or the bullied, whose anger eats away from within. Class and privilege play a part in the dynamic between Heather and Carla, while the bigger context around the bullying child is touched upon too: we hear of Carla’s traumatic home life and the abuse she experienced herself. Can this excuse what she did to Heather? And can the bullied ever find catharsis, even when revenge has been enacted? Those interesting questions are obfuscated by the busy plotting.

As a revenge thriller bearing Hitchcockian aspirations, it is original but ultimately lacks enough of a killer sting.

• At Southwark Playhouse, London, until 30 May