There are other tools available for running Windows on a Chromebook, but Parallels is going to be missed. There's a slim chance that Google might grant it a stay of execution, but not likely; instead, you'll need to turn to Cameyo and what it has to offer or look into one of the other (usually more difficult) options found in Wine or Crossover.

According to multiple sources, Parallels for ChromeOS is set to shut down in the near future after a few years of enabling Windows on ChromeOS

While it’s a viable way to get legacy apps running on Chrome OS, its presence on Chromebooks also presents a few paradoxes. One is that you need to have a higher-powered Chromeb

Parallels for ChromeOS will reportedly be discontinued in the near future. Google has an alternative offering, but it's not the same as running a virtual desktop.