In a large zip-lock bag, combine chicken pieces with red wine, thyme, bay leaf, and minced garlic. Seal and marinate for at least 2 hours, preferably overnight.

Heat a Dutch oven over medium heat and cook the bacon until crisp, about 5-7 minutes. Remove and set aside, leaving fat in the pot.

Pat chicken dry, season with salt and pepper, and brown skin-side down in the same pot for about 10 minutes, then turn for another 5 minutes.

Remove chicken and sauté onions, carrots, and mushrooms in the remaining fat for 5-7 minutes until softened.

Stir in tomato paste, sprinkle flour, and cook for 1-2 minutes. Gradually add marinade and chicken stock, stirring to combine.

Return chicken and bacon to the pot, add thyme and bay leaf, and bring to a boil. Reduce heat and simmer for 30 minutes.

After 30 minutes, add pearl onions and simmer uncovered for an additional 15-20 minutes until chicken is tender.