1. Place bacon in a large, deep skillet. Cook over medium-high heat until evenly brown. Drain, crumble and set aside.
2. In a large bowl, Combine the bread cubes and milk. Drain after 5 minutes. In a separate bowl, beat together milk, eggs, salt and pepper.
3. In a large skillet or saucepan, melt 1/4 cup butter over medium heat. Add the egg mixture and scramble until soft. Do not fully cook. Add the soaked bread cubes and turn into a greased 9x13 inch baking pan. Sprinkle shredded cheese on top of casserole. In a small bowl, stir together butter and bread crumbs. Sprinkle this mixture over the cheese and then top with the bacon. Cover and refrigerate overnight.
4. The next morning, preheat oven to 350 degrees F (175 degrees C).
5. Bake in preheated oven for 40 minutes. Serve warm.