diff --git a/__tests__/server/utils/watchLocalModules.spec.js b/__tests__/server/utils/watchLocalModules.spec.js
index f34bcd0de..2a3656cf8 100644
--- a/__tests__/server/utils/watchLocalModules.spec.js
+++ b/__tests__/server/utils/watchLocalModules.spec.js
@@ -66,6 +66,7 @@ jest.mock('fs', () => {
     readFileSync: jest.fn(actual.readFileSync),
   };
 });
+jest.spyOn(console, 'error').mockImplementation(() => {});
 
 describe('watchLocalModules', () => {
   beforeEach(() => jest.clearAllMocks());
@@ -123,6 +124,49 @@ describe('watchLocalModules', () => {
     expect(getModules().get(moduleName)).toBe(updatedModule);
   });
 
+  it('handles a rejection properly', async () => {
+    const moduleName = 'some-module';
+    const moduleVersion = '1.0.1';
+    const moduleMapSample = {
+      modules: {
+        [moduleName]: {
+          node: {
+            integrity: '133',
+            url: `https://example.com/cdn/${moduleName}/${moduleVersion}/${moduleName}-node.js`,
+          },
+          browser: {
+            integrity: '234',
+            url: `https://example.com/cdn/${moduleName}/${moduleVersion}/${moduleName}-browser.js`,
+          },
+          legacyBrowser: {
+            integrity: '134633',
+            url: `https://example.com/cdn/${moduleName}/${moduleVersion}/${moduleName}-legacy.browser.js`,
+          },
+        },
+      },
+    };
+    fs.readFileSync.mockImplementationOnce(() => JSON.stringify(moduleMapSample));
+    const modulePath = path.resolve(__dirname, `../../../static/modules/${moduleName}/${moduleVersion}/${moduleName}.node.js`);
+    const originalModule = () => null;
+    const updatedModule = () => null;
+    const modules = fromJS({ [moduleName]: originalModule });
+    const moduleMap = fromJS(moduleMapSample);
+    resetModuleRegistry(modules, moduleMap);
+    watchLocalModules();
+    const changeListener = chokidar.getListeners().change;
+    expect(getModules().get(moduleName)).toBe(originalModule);
+    loadModule.mockReturnValueOnce(Promise.reject(updatedModule));
+    await changeListener(modulePath);
+    expect(loadModule).toHaveBeenCalledWith(
+      moduleName,
+      moduleMapSample.modules[moduleName],
+      require('../../../src/server/utils/onModuleLoad').default
+    );
+    expect(getModules().get(moduleName)).toBe(originalModule);
+    expect(console.error).toHaveBeenCalledTimes(1);
+    expect(console.error).toHaveBeenCalledWith(updatedModule);
+  });
+
   it('should ignore when the regex doesn\'t match', async () => {
     const changedPath = path.resolve(__dirname, '../../../static/modules/dont-match-me-bro.node.js');
     watchLocalModules();
diff --git a/package-lock.json b/package-lock.json
index 56a14d132..5e8c5f74b 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -7112,9 +7112,9 @@
       "integrity": "sha1-DmVcm5wkNeqraL9AJyJtK1WjRSQ="
     },
     "bl": {
-      "version": "4.0.2",
-      "resolved": "https://registry.npmjs.org/bl/-/bl-4.0.2.tgz",
-      "integrity": "sha512-j4OH8f6Qg2bGuWfRiltT2HYGx0e1QcBTrK9KAHNMwMZdQnDZFk0ZSYIpADjYCB3U12nicC5tVJwSIhwOWjb4RQ==",
+      "version": "4.0.3",
+      "resolved": "https://registry.npmjs.org/bl/-/bl-4.0.3.tgz",
+      "integrity": "sha512-fs4G6/Hu4/EE+F75J8DuN/0IpQqNjAdC7aEQv7Qt8MHGUH7Ckv2MwTEEeN9QehD0pfIDkMI1bkHYkKy7xHyKIg==",
       "dev": true,
       "requires": {
         "buffer": "^5.5.0",
@@ -10135,11 +10135,11 @@
       }
     },
     "cross-fetch": {
-      "version": "3.0.5",
-      "resolved": "https://registry.npmjs.org/cross-fetch/-/cross-fetch-3.0.5.tgz",
-      "integrity": "sha512-FFLcLtraisj5eteosnX1gf01qYDCOc4fDy0+euOt8Kn9YBY2NtXL/pCoYPavw24NIQkQqm5ZOLsGD5Zzj0gyew==",
+      "version": "3.0.6",
+      "resolved": "https://registry.npmjs.org/cross-fetch/-/cross-fetch-3.0.6.tgz",
+      "integrity": "sha512-KBPUbqgFjzWlVcURG+Svp9TlhA5uliYtiNx/0r8nv0pdypeQCRJ9IaSIc3q/x3q8t3F75cHuwxVql1HFGHCNJQ==",
       "requires": {
-        "node-fetch": "2.6.0"
+        "node-fetch": "2.6.1"
       }
     },
     "cross-spawn": {
@@ -13830,9 +13830,9 @@
       }
     },
     "holocron": {
-      "version": "1.1.0",
-      "resolved": "https://registry.npmjs.org/holocron/-/holocron-1.1.0.tgz",
-      "integrity": "sha512-BZntRbr7kZ8TTQLMdumlZMCP+BRiL+8mDVl6p53mfYh00IoLRXrI9jYgoeLmvYGCpZxLSL13+xUoVcp4ACk8CQ==",
+      "version": "1.1.1",
+      "resolved": "https://registry.npmjs.org/holocron/-/holocron-1.1.1.tgz",
+      "integrity": "sha512-7jZRoHrCjHjsu5GMIDvgfW2qaU8C/6Cey6WSIhwQvh3taAbMbXThiA/i4GAQ6LIrxRnWShM+C2u7nWgBub0nYg==",
       "requires": {
         "@americanexpress/vitruvius": "^2.0.0",
         "hoist-non-react-statics": "^3.3.0",
@@ -19794,9 +19794,9 @@
       }
     },
     "node-fetch": {
-      "version": "2.6.0",
-      "resolved": "https://registry.npmjs.org/node-fetch/-/node-fetch-2.6.0.tgz",
-      "integrity": "sha512-8dG4H5ujfvFiqDmVu9fQ5bOHUC15JMjMY/Zumv26oOvvVJjM67KF8koCWIabKQ1GJIa9r2mMZscBq/TbdOcmNA=="
+      "version": "2.6.1",
+      "resolved": "https://registry.npmjs.org/node-fetch/-/node-fetch-2.6.1.tgz",
+      "integrity": "sha512-V4aYg89jEoVRxRb2fJdAg8FHvI7cEyYdVAh94HH0UIK8oJxUfkjlDQN9RbMx+bEjP7+ggMiFRprSti032Oipxw=="
     },
     "node-int64": {
       "version": "0.4.0",
diff --git a/package.json b/package.json
index 222705ea1..beeedf02d 100644
--- a/package.json
+++ b/package.json
@@ -91,10 +91,10 @@
     "core-js": "^3.6.5",
     "cors": "^2.8.5",
     "create-shared-react-context": "^1.0.3",
-    "cross-fetch": "^3.0.5",
+    "cross-fetch": "^3.0.6",
     "express": "^4.17.1",
     "helmet": "^3.22.0",
-    "holocron": "^1.1.0",
+    "holocron": "^1.1.1",
     "holocron-module-route": "^1.1.0",
     "if-env": "^1.0.4",
     "immutable": "^4.0.0-rc.12",
diff --git a/src/server/utils/watchLocalModules.js b/src/server/utils/watchLocalModules.js
index 64eb9ce32..2ec79b63a 100644
--- a/src/server/utils/watchLocalModules.js
+++ b/src/server/utils/watchLocalModules.js
@@ -39,28 +39,32 @@ export default function watchLocalModules() {
   const watcher = chokidar.watch(moduleDirectory, { awaitWriteFinish: true });
 
   watcher.on('change', async (changedPath) => {
-    if (!changedPath.endsWith('.node.js')) return;
+    try {
+      if (!changedPath.endsWith('.node.js')) return;
 
-    const match = changedPath.substring(moduleDirectory.length).match(/\/([^/]+)\/([^/]+)/);
-    if (!match) return;
-    const [, moduleNameChangeDetectedIn] = match;
+      const match = changedPath.substring(moduleDirectory.length).match(/\/([^/]+)\/([^/]+)/);
+      if (!match) return;
+      const [, moduleNameChangeDetectedIn] = match;
 
-    const moduleMap = JSON.parse(fs.readFileSync(moduleMapPath, 'utf8'));
+      const moduleMap = JSON.parse(fs.readFileSync(moduleMapPath, 'utf8'));
 
-    const moduleData = moduleMap.modules[moduleNameChangeDetectedIn];
-    const oneAppDevCdnAddress = `http://${ip}:${process.env.HTTP_ONE_APP_DEV_CDN_PORT || 3001}`;
+      const moduleData = moduleMap.modules[moduleNameChangeDetectedIn];
+      const oneAppDevCdnAddress = `http://${ip}:${process.env.HTTP_ONE_APP_DEV_CDN_PORT || 3001}`;
 
-    moduleData.browser.url = moduleData.browser.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
-    moduleData.legacyBrowser.url = moduleData.legacyBrowser.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
-    moduleData.node.url = moduleData.node.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
+      moduleData.browser.url = moduleData.browser.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
+      moduleData.legacyBrowser.url = moduleData.legacyBrowser.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
+      moduleData.node.url = moduleData.node.url.replace('[one-app-dev-cdn-url]', oneAppDevCdnAddress);
 
-    const module = addHigherOrderComponent(await loadModule(
-      moduleNameChangeDetectedIn,
-      moduleData,
-      onModuleLoad
-    ));
+      const module = addHigherOrderComponent(await loadModule(
+        moduleNameChangeDetectedIn,
+        moduleData,
+        onModuleLoad
+      ));
 
-    const modules = getModules().set(moduleNameChangeDetectedIn, module);
-    resetModuleRegistry(modules, getModuleMap());
+      const modules = getModules().set(moduleNameChangeDetectedIn, module);
+      resetModuleRegistry(modules, getModuleMap());
+    } catch (error) {
+      console.error(error);
+    }
   });
 }