Preheat your oven to 350°F (175°C).

In a large bowl, season the beef cubes with salt and pepper, then sprinkle with flour and toss to coat evenly.

In a large Dutch oven, heat 2 tablespoons of olive oil over medium-high heat. Add the bacon and cook until crispy. Remove the bacon and set aside, leaving the drippings in the pot.

In the same pot, add the beef in batches, browning on all sides. Remove the beef and set aside.

Add the remaining olive oil to the pot, then add the onion and carrots. Sauté for about 5 minutes until softened. Stir in the garlic and cook for an additional minute.

Return the beef and bacon to the pot. Pour in the red wine and beef broth, then add the tomato paste, thyme, and bay leaves. Bring to a simmer.

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

In the last 30 minutes of cooking, add the quartered mushrooms to the pot.

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