Pat the chicken thighs dry with paper towels, season with salt and black pepper, and let sit for 15-20 minutes.

Heat olive oil and butter in a skillet over medium-high heat until shimmering. Cook chicken thighs skin-side down for 8-10 minutes until golden. Flip and cook for another 5-6 minutes. Transfer to a plate.

In the same skillet, reduce heat to medium, cook bacon until crisp, then add mushrooms and shallots. Sauté for 4-6 minutes, add garlic and sauté for another minute.

Sprinkle flour over the mixture and stir for 1 minute. Gradually pour in wine and bring to a simmer. Add chicken broth, thyme, and bay leaf, returning the chicken to the skillet.

Cover and reduce heat to low. Let braise for 12-15 minutes until chicken is fork-tender and internal temperature reaches 165°F.

Remove chicken, stir in heavy cream to the sauce, and adjust seasoning. Return chicken to skillet and garnish with parsley.

Serve Braised Chicken Fricassé over mashed potatoes, drizzled with sauce, and enjoy with a salad or roasted vegetables.