Renowned English pit theatre (7)
I believe the answer is:
eminent
'renowned' is the definition.
(I've seen this in another clue)
'english pit theatre' is the wordplay.
'english' becomes 'e' (abbreviation).
'pit' becomes 'mine' (mining pit).
'theatre' becomes 'NT' (National Theatre).
'e'+'mine'+'nt'='EMINENT'
(Other definitions for eminent that I've seen before include "Noted" , "Met nine who were distinguished" , "Famous and respected" , "Distinguished, prominent" , "Lofty; famous" .)