Preheat the oven to 350°F. Then add the bread into a large-bowl and then pour the milk in top to the slices. Let them soak for 5 minutes.
Add the remaining meatloaf ingredients then use your hands to blend. Try to ensure that the bread is sufficiently combined into the mixture, although try not to overmix as the ground beef will become tougher and lose some flavor.
Form the meat into a loaf (roughly 5-inches wide) and put it above a broiler pan to allow the fat to drain. Lining the bottom of the broiler pan with foil will make for easier cleanup.
Line the bacon on the top of the loaf and carefully tuck the ends under the bottom. The bacon can be utilized to support the shape of the loaf. I love to line them that they are touching, but not overlapping so you could readily slit in between every piece of bacon if it is cooked.
Combine the sauce ingredients and brush 1/3 of it on the meatloaf. Bake the meatloaf for 45 minutes on the center rack. Remove it from the oven and brush the following 1/3 of this sauce . Bake for another 25 minutes.
Remove from the oven and allow it to sit for 10 minutes before slicing, allowing it to rest lets the juices to absorb back into the meat, cutting too early will get the juice to run-out from the loaf.
Serve with the remaining sauce.