The threadbare blanket provided little warmth on the cold night.

The cast of Threadbare - 2012 includes: Lucas Crawford

"The homeless man's hand-me-down coat was so old, it was threadbare." As in it was so old and tattered, so it appeared threadbare. You can also use "threadbare" to describe someone or something that appears old and shabby, not just clothing or cloth.

...warn out.

Threadbare means that the clothes are worn down to the threads. In other words they are frayed or just about falling apart.