Holmes has been struggling with the injury since last month

The double Olympic champion is still troubled by an Achilles problem which flared up after a race in Glasgow early last month.

"I just can't put into words how disappointed and frustrated I am," said the 35-year-old.

She is still hoping to be fit for her last ever British track appearance in Sheffield on 21 August.

Holmes also pulled out of Friday night's Norwich Union Grand Prix at Crystal Palace, which was due to be her final appearance on the track in London.

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"I am bitterly disappointed because I was desperate to run in my home meeting," she said.

"For the past week I have been doing everything to get over my Achilles problem and although I've been getting intense physio, I just can't race on it.

"My physio and I have decided I need to stop pushing myself to recover.

"All my focus is now on racing in Sheffield," she added.

"It's the most important thing for me at the moment and means more to me than any other race this season."

London's Olympic 2012 chief, Lord Coe, believes Holmes made the correct choice.

I don't want to see Kelly go out on a low note Lord Coe

"I think she has made the right decision. You have to make that assessment when you have an injury and it is that close to a major championship," he told BBC Radio Five Live.

"She has clearly tried to go through what would have been a tough test and made her own mind up that either the injury is just not responding or it doesn't leave her with enough time to catch up on training she has lost.

"With what she did in 2004 in Athens, Kelly's not really in need of going to a major championships without really believing that she is going to come back with medals and I think she has clearly reached that point.

"Her whole career has been a rollercoaster between injuries and I don't want to see Kelly go out on a low note.

"The memories of 2004 and races subsequent to that were fantastic and I think she has made a tough decision but I think it is the right one."