Testrail - archiving old testruns

My project is using TestRail (lovely little tool) but for some reason we’ve got a huge amount of still open test runs.
I suspect this is simply a case of people not closing off the runs and archiving them, so fairly simple to solve.
What I’m curious about is people’s experiences of doing this. When is the correct time to archive off? What are the consequences of doing this (negative and positive)? Any pitfalls in doing it?
Any way to do it in bulk?

I’ll have to do a ‘sales job’ on my team lead to account for the time it’ll take, so the more info the better.

Thanks,
Iain

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