Marinate the chicken in the red wine overnight, or for at least 3 hours.
Remove the chicken from the wine, pat dry and season with salt and pepper. Reserve the wine.
In a large Dutch oven, cook the bacon over medium heat until crisp. Remove with a slotted spoon and set aside.
In the same pot, brown the chicken pieces on all sides, then set aside.
Add the pearl onions, carrots and garlic to the pot and sauté until the onions are lightly browned.
Sprinkle the vegetables with flour and stir until evenly coated.
Deglaze the pot with the brandy and reserved wine, scraping the bottom of the pot to loosen any browned bits.
Return the chicken and bacon to the pot. Add the chicken stock, thyme and bay leaves.
Cover and simmer for about 2 hours, until the chicken is tender.
Serve the Coq au Vin garnished with chopped parsley, alongside mashed potatoes or crusty bread.