Bulk Rename Utility

I have a set of files that got extracted into their own subfolders. I'd like to move all these files to the parent folder, but each of the files has the same name (the folder has the unique name), so I'd like to see if I can rename all the files based on the name of the folder they're in and then move them all to the root folder. Is this even possible?
Example:
I current have...
/blue/file001.jpg
/red/file001.jpg
/yellow/file001.jpg

and I want to have...
/blue.jpg
/red.jpg
/yellow.jpg

Each folder only has the one file inside it and they all share the same root folder.

I managed to figure it out. Prepend the parent folder name, remove current name, and then move renamed files to root folder.

Can you describe a bit more how you did that? I'm trying to do the same thing, but I'm having some trouble. I have a bunch of files with gibberish names, inside of folders with names that make sense. I'd like to copy the folder names and overwrite the file names.

Thanks in advance!

Renaming Options (menu item), Ignore - File Extensions, uncheck if checked

2:Name
Remove

9:Append Folder Name
Name-> Prefix
Levels-> 1

Maybe also, if it affects you...

12:Filters
uncheck Folders, leaving Files selected