Latest upgrade FAILED.... :(

Fired up Parallels this morning and received a notice say there was an upgrade available.

Hit the upgrade button, all was proceeding, then it restarted my iMac, now Parallels has ceased to work.

Considering using Timeline to restore previous settings. This is the first failure of this kind.

Am I considering the correct course of action or is there an easier, quick method of 'fix'?

 

Me too!

I'm having the exact same problem and have no idea what to do.

 

Sorry to hear that Linden.
Well, having received no luck here, I furthered my research and was told:
1. To simply download the latest version from Parallels site,
2. Move corrupt copy from applications folder to Trash.
3. Install latest version into Apps folder, all is good.

I did the above and all went well. Apparently all VMs are stored separately and weren't affected at all.
I did not uninstall the app, just simply moved it to Trash.

Added:
Did it with great trepidation, but certainly worked.
I have original key available as well just in case it is needed to 'unlock' reinstalled app, but so far, so good.