Preheat your oven to 350°F (175°C).

In a large bowl, season the beef cubes with salt and pepper, then toss with flour until evenly coated.

In a large Dutch oven, cook the diced bacon over medium heat until crispy. Remove the bacon and set aside, leaving the drippings in the pot.

Increase the heat to medium-high and add the olive oil. Brown the beef in batches, ensuring not to overcrowd the pot. Remove the beef and set aside.

In the same pot, add the chopped onion and carrots. Sauté for about 5 minutes until softened. Add the minced garlic and cook for an additional minute.

Pour in the red wine, scraping up any browned bits from the bottom of the pot. Bring to a simmer.

Stir in the beef broth, tomato paste, thyme, bay leaves, and the browned beef along with the reserved bacon. Bring to a boil.

Cover the pot and transfer it to the preheated oven. Cook for 2 to 2.5 hours, or until the beef is tender.

About 30 minutes before the dish is done, add the quartered mushrooms to the pot.

Once cooked, remove the pot from the oven, discard the bay leaves, and adjust seasoning if necessary. Garnish with fresh parsley before serving.