admit defeat

verb2

1. •
   To accept that one has lost a fight or competition.

   • Sure. Comforting news. If that's the extent of the left's imagination, we may as well throw in the cards and admit defeat and go en masse to sign up at our nearest Anita Bryant Treatment Center! — 1978
2. •
   To accept that one has failed to achieve a goal.

   • One of China’s poorest and most indebted provinces has admitted defeat in trying to sort out its finances and is appealing to Beijing for help to avert default. — 2023