Can my chandelier catch fire?

I have an old chandelier that i want to install in my kitchen. The only problem is that the wire is a bit frayed. The chandelier has 2 copper colored wires that are wrapped in a white plastery, flexible paint covered wire, which is very old. The white wire has a few tears in it, and feels very brittle. Will the chandelier catch fire in my ceiling if I install it? Thanks in advance for all the answers