What is Loss ?
Loss is (noun) 1. no longer having something He was very despondent at the loss of his house. The loss of a child is almost unbearable to a parent. it’s no great loss it does not matter now that we no longer have it The map’s no great loss – I brought two along, just in case. 2. money which you have spent and have not got back Companies often make losses in their first year of operations. they sold it at a loss they sold it for less than they paid for it 3. it’s a dead loss it’s no use at all (informal.) The plan was a dead loss.
source: Easier English, Student Dictionary Upper Intermediate Level