1. 1. In a large Dutch oven, cook the chopped bacon over medium heat until crispy. Remove with a slotted spoon, leaving the fat behind.

2. 2. Pat the beef cubes dry and season generously with salt and pepper. Working in batches, sear the meat in the hot bacon fat until a dark brown crust forms on all sides. Remove and set aside.

3. 3. Add the diced onion to the pot and cook until softened. Add the garlic and cook for another minute until fragrant. Stir in the tomato paste and cook for 2 minutes until it darkens.

4. 4. Sprinkle the flour over the onion mixture and stir constantly for one minute. Slowly pour in the red wine, scraping the bottom of the pot to deglaze all those browned bits.

5. 5. Add the beef stock, bay leaves, thyme, and return the beef and bacon to the pot. Bring to a boil, then reduce heat to low. Cover and let it simmer gently for 1.5 hours.

6. 6. Stir in the potatoes, carrots, and celery. Continue to simmer, uncovered, for another 45 minutes to 1 hour, or until the vegetables are tender and the stew has thickened.

7. 7. Remove the bay leaves. Taste and adjust seasoning with more salt and pepper if needed. Ladle into bowls and serve.