My theme is completely broken after the update ...

Please note that the 2.x version of the theme or newer is not compatible with 1.x version. The quickest fix is to downgrade back to 1.x version, here is how:

1. Remove your current theme version and all LSVR plugins
2. Download the full theme package from your ThemeForest account / Downloads
3. Unzip the package and navigate to Legacy / TownPress v1 folder
4. a.) Upload the townpress.zip via admin / Appearance / Themes / Add New / Upload
   b.) Or unzip the townpress.zip file and upload the townpress folder via FTP under wp-content/themes