Green’s Dictionary of Slang

ragged-arsed adj.

also ragged-arse, raggedy-arsed, -ass, -assed, -pants, raggety-ass, raggly-ass
[SE ragged + -arsed sfx/-ass sfx/-assed sfx]

1. [mid-19C+] of people, disreputable, seedy, run-down.

2. [late 19C+] of clothes, tattered.

3. [1940s+] of things, worthless.