Greggs, the high street bakery chain, has admitted defeat in its attempt to woo Belgians with its range of sandwiches, buns, sausage rolls and savoury slices.

In what marked a 'Dunkirk' moment for the Newcastle-based retailer, Ken McMeikan, chief executive, signalled an orderly withdrawal following a five-year campaign in Belgium that had originally been seen as a launch pad for the British baker into Germany, France and beyond.

The decision by the retailer, which operates more than 1,400 outlets in the UK, follows a strategic review by Mr McMeikan that will focus on domestic expansion.

Financial Times, Daily Telegraph