In a large skillet, heat over medium heat and add the thick-cut bacon. Fry the bacon until crispy and golden, about 8-10 minutes. Remove and set aside, keeping the drippings.

In the same skillet with the drippings, add butter or olive oil, allow it to melt, then add peeled shallots and sauté gently over medium heat for 8-10 minutes until golden and tender.

Pour in honey, balsamic vinegar, and Worcestershire sauce into the skillet with the cooked shallots. Stir well and let bubble for 2-3 minutes to thicken.

Return the crispy bacon to the pan, gently mixing it with the glazed shallots. Let sit for 2 minutes on low heat to combine flavors.

Taste and adjust seasoning with salt and pepper. Serve warm.