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If the subfolder in question has multiple subfolders and you want to move all the files without their subfolder structure in tact, do the following:

Press F3 to open the search dialog (or if you have Windows 7+ it will move the cursor to the search bar)
Type in *.* and press enter.
Wait for the search to complete. Note that it can appear to be done and then suddenly it finds more files. There is no notification when the search is complete other than a bar saying: Search again in, which appears at the bottom of the search results.
Select all files
Right click, choose cut
Move to the parent folder by first pressing back to exit the search and then another time to go to the parent folder
Right click an empty place and choose paste.