I am currently running a SharePoint 2007 Farm.
I have a subsite (http://server/sites/hr/finance) that I wish to move to its own site collection (http://server/sites/finance).
I exported the subsite using stsadm -o export. Then I created the new site collection (http://server/sites/finance). Then I attempted to import the site using stsadm -o import.
However, I'm getting the following error: "The file cannot be imported because its parent web does not exist"
I am running as the Site Collection administrator.