"considerable loss of" is correct and usable in written English.
You can use it when you are referring to a large amount of something having been lost, either figuratively or literally. For example: "The company experienced a considerable loss of revenue due to the pandemic."
Wine exports to France have substantially declined, and most vineyards have been uprooted, with considerable loss of employment.
There is also the considerable loss of Jamie Peacock, Kylie Leului and Kevin Sinfield from their treble-winning team of 2015.
This was to compensate for the enclave's considerable loss of territory: the San Martino shore became Swiss in order to solve two traffic problems.
This is shown most strikingly by the sand rats of northeastern Africa, but considerable loss of hair has also occurred in some species of pocket gophers.
In the early 1980s, resentment among the Assamese against "foreigners"—mostly immigrants from Bangladesh led to widespread violence and considerable loss of life.
In Moscow the soviet unleashed an armed insurrection in December, which had to be put down with artillery, resulting in considerable loss of life.
At Lucea there was considerable loss of life, and on the north side of the town only five houses out of 300 were left standing.
In Japan (see article), that workforce will shrink by a fifth in the next decade a considerable loss of knowledge and skills.
In a year's time the Mayor has suffered a considerable loss of credibility in the field closest to his heart - fiscal knowledge.
There was no considerable loss of activity observed within one month under these storage conditions.
Much of the section has suffered considerable loss of mechanical strength due to thermal exposure.
