When a chat group is archived it means it will no longer be available for new people to join. The group admins can no longer send messages in the group and it will disappear form the chat feed.
Archiving a Chat Group
If you are a group administrator you will have access to archiving a chat group.
Open the chat group
Click on the settings button in the top right
At the bottom of the Group Info screen select Archive Group
Confirm your intention to archive by selecting Yes
Reactivate a Chat Group
If you are a group administrator you will have access to reactivate an archived chat group.
Open the chat tab in your app
Tap into the Search bar at the top of your screen to reveal an Active and archive tab as per screenshot below.
Tap on the Archive Tab to view your archived groups.
Tap on the group you wish to reactivate and confirm by tapping Yes.