1. Fry the bacon in a medium saucepan over medium heat until lightly browned and the fat is rendered, 6 to 7 minutes.  Remove the browned bacon from the pan with a slotted spoon and set aside on a small plate.  

2. Reduce the heat to medium-low and gradually stir in the flour with a wooden spoon, making sure to work out any lumps that may form.  Continue stirring constantly, reacing into the corners of the pan, until the mixture is light brown, about 4-5 minutes.  Add the stock in a slow, steady stream while vigorously stirring.  Reduce the heat to low and keep the sauce warm.

3. Heat the oil in a 12" skillet over high heat until shimmering, 2 to 3 minutes.  Meanwhile, pat the chops dry with paper towels and season generously with salt and pepper.  Place the chops in the pan in a single layer and cook until a deep brown crust forms, about 2 minutes.  Turn the chops over and cook for another 2 minutes.  Remove the chops from the pan and set aside on a plate.

4. Reduce the heat to medium and add the onions and 1/4 tsp salt.  Cook, stirring frequently and scraping any browned bits off the bottom of the pan, until the onions soften and begin to brown around the edges, about 5 minutes.  Stir in the garlic and thyme and cook until fragrant, about 30 seconds longer.  Return the chops to the pan in a single layer and cover each chop with onions.  Pour in the warm sauce, add the bay leaf, and cover with a tight-fitting lid.  Reduce the heat to low and cook until the meat is tender, about 30 minutes.

5. Transfer the chops to a warmed plate and cover with foil.  Increase the heat to medium high and, stirring frequently, cook until the sauce thickens to a gravy-like consistency, 4 to 5 minutes.  Stir in the parsley and adjust the seasonings.  Cover each chop with a portion of the sauce, sprinkle with the reserved bacon, and serve immediately.