If your host machine is short on storage and you have virtual machines that you seldom use but still want to keep, you may consider archiving them to save space.
Archiving a Virtual Machine
To archive a virtual machine, do the following:
Right-click the Parallels Desktop icon in the Dock and choose Control Center.
Right-click a virtual machine and select Archive.
Unarchiving a Virtual Machine
Archived virtual machines cannot be launched. To start an archived virtual machine, you need to unarchive it first. Do the following:
Right-click the Parallels Desktop icon in the Dock and choose Control Center.
Right-click an archived virtual machine and select Start.
In the dialog prompting to unarchive the virtual machine, click Unarchive.