Preheat oven to 350°F
Place a large heavy-bottomed, oven-proof pot over medium-high heat. Add the olive oil and chicken, brown for 4-5 minutes on each side until nicely browned. Remove from the pot, and remove the skin. Discard the skin.
Add the mushrooms, salt, and celery to the pot, cover, and let the mushrooms begin to release their juices, about 5 minutes. Remove the cover and saute until the liquid has almost evaporated.
Add the butter and garlic, and saute for 1-minute. Add the flour and stir to coat all the ingredients thoroughly. Add the wine, pearl onions, bay leaf, and thyme then bring to a boil.
Once at a low boil, add the chicken so that it is covered by the sauce. Place the uncovered pot into the preheated oven for approximately 35-40 minutes until the thighs register 165°F on an instant-read thermometer.
Mix in half of the parsley, serve the Coq au Vin Blanc, and sprinkle the top with remaining parsley and crispy bacon bits.