concede defeat

Translations
признать поражение
After hours of negotiation, the company finally had to concede defeat.
После часов переговоров компания наконец-то была вынуждена признать поражение.
Definitions
To admit or acknowledge that one has lost in a competition, argument, or conflict, often formally or publicly.
Words
concede

verb
признать
defeat

noun
поражение