Season the chicken thighs with salt, pepper and thyme, set aside.
Heat the olive oil and 2 tablespoons of butter in an skillet over medium high heat. Add the mushrooms and allow to brown for about 3-4 minutes stirring until browned and reduced in size. Remove the mushrooms from the skillet and set aside.
Heat the remaining 1 tablespoon of butter on medium high heat. Add the chicken skin down and allow to brown for 3 minutes on each side.
Add red peppers, onions and garlic. Cook for about 2 minutes then add the chicken broth. Using a spoon, scrape the bottom of the pan so all the brown bits are loosened.Cover and let simmer for about 10 minutes.