Failed to create a new virtual machine – Virtual Box

I recently came across this error when trying to install Virtual Box on my Mac. It usually happens when you have a failed import, or you remove a VM and try to re-install. It wasn’t too intuitive trying to figure this out but here it is:

1. First go to Virtual Box Media Manager and Unmount the VM.

Navigate to folder \\Users\[you]\VirtualBox VMs\VirtualBox VM and delete all content in this folder.