Bash script error trying to write to file: no such file or directory

I'm getting an error with a very simple script. The script should run pg_dumpall and write the output to a file but I'm getting an error that the resulting file doesn't exist. I know it doesn't exist, thats why I want to creat it! :-/ #!/bin/bash #remove previous day's dump and create new rm -f /home/user/db_dump_*.txt; pg_dumpall -U postgres -w > /home/user/db_dump_date '+%d/%m/%Y_%H:%M:%S'.txt; The result is: db_dump.sh: line 4: /home/user/db_dump_12/02/2017_14:30:15.txt: No such file or directory The date command is working fine and the filename comes out perfect but instead of the file being created, I get the error saying that it doesn't exist. I'm running the script as root so there should be no issues with permissions. I can write to the user's home directory without any problems. Any ideas?