Cook the bacon: Cook the chopped bacon in a large skillet over medium heat until browned and lightly crisp. Transfer the bacon to the slow cooker.
Brown the beef: Pat the beef dry with paper towels and season with salt and black pepper. Brown the beef in batches in the bacon fat, then transfer the browned pieces to the slow cooker.
Cook the vegetables: Add the onion and mushrooms to the same skillet and cook until they begin to soften and brown. Stir in the garlic and tomato paste and cook briefly.
Deglaze with wine: Pour the red wine into the skillet and scrape the browned bits from the bottom with a wooden spoon. Let the wine simmer for a few minutes to reduce slightly.
Combine the ingredients: Pour the wine mixture and beef broth into the slow cooker with the beef and bacon.
Add the aromatics: Add the carrots, pearl onions, Worcestershire sauce, thyme, and bay leaves. Stir gently to distribute the ingredients.
Slow cook: Cover and cook on LOW for 8–10 hours, or until the beef is fork-tender and easily separates when pressed with a fork.
Check the sauce: If the sauce is thinner than you prefer, transfer some of the liquid to a saucepan and simmer until slightly reduced, then return it to the stew.
Finish the stew: Remove the bay leaves and thyme stems. Taste and adjust the seasoning if needed.
Garnish and serve: Sprinkle with fresh parsley and serve hot with mashed potatoes, buttered egg noodles, or crusty bread.