Preheat oven to 450 degrees. Butter a 2 quart baking dish and set aside. Place breadcrumbs in a small bowl and set aside.
Heat a 12 inch nonstick skillet over medium and add butter. Once butter has melted, transfer one tablespoon to the small bowl with the breadcrumbs. Stir with a fork to combine.
Add shallot to the remaining butter in the pan and saute until soft and translucent, about 2-3 minutes. Add mushrooms, increase heat to medium high and season with salt and pepper. Saute until mushrooms are browned and tender, about 10 minutes. Add thyme and stir to combine.
Reduce heat to medium low, add flour and cook, stirring constantly, for 1 minute. Add the white wine and cook until it has nearly evaporated, about 1 more minute. Stir in water and cream and bring to a simmer. Season with additional salt and pepper to taste. Transfer mixture to prepared baking dish. Sprinkle evenly with cheese followed by the breadcrumbs. Bake 8-10 minutes or until brown and bubbly. Serve.
To Make Breadcrumbs: Tear the bread into quarters and place it in the work bowl of your food processor. Pulse until crumbs form.
To Make Ahead: Prepare the creamy mushroom mixture and the unbaked buttered breadcrumbs and store them separately, tightly covered, in the refrigerator for up to 48 hours. When you are ready to bake, reheat the mushroom mixture on the stove and proceed with the recipe from there. If the mushroom filling seems dry, add a splash or two of water to achieve a pleasantly creamy consistency.
Adapted from Scandinavian Cooking by Beatrice Ojakangas
Calories: 278kcal | Carbohydrates: 17g | Protein: 11g | Fat: 19g | Saturated Fat: 11g | Polyunsaturated Fat: 1g | Monounsaturated Fat: 5g | Trans Fat: 0.3g | Cholesterol: 54mg | Sodium: 229mg | Potassium: 448mg | Fiber: 2g | Sugar: 4g | Vitamin A: 618IU | Vitamin C: 4mg | Calcium: 212mg | Iron: 2mg