Preheat the oven to 350 degrees.

Add the bread to a large bowl and pour the milk on top of the slices. Let them soak for 5 minutes.

Add the remaining meatloaf ingredients and use your hands to combine, ensuring the bread is sufficiently combined but not overmixed.

Form the meat into a loaf (about 5 inches wide) and place it over a broiler pan to allow the fat to drain. Line the bottom of the pan with foil for easier cleanup.

Line the bacon over the top of the loaf and carefully tuck the ends under the bottom.

Combine the sauce ingredients and brush 1/3 of it over the meatloaf.

Bake the meatloaf for 45 minutes on the middle rack.

Remove from the oven and brush another 1/3 of the sauce over it. Bake for another 25 minutes.

Remove from the oven and let it sit for 10 minutes prior to slicing. Use a meat thermometer to ensure the middle is 160°F before slicing.