diff --git a/covalent/_serialize/common.py b/covalent/_serialize/common.py
index 341e112f0..8a633c898 100644
--- a/covalent/_serialize/common.py
+++ b/covalent/_serialize/common.py
@@ -97,7 +97,10 @@ def deserialize_asset(data: bytes, data_type: AssetType) -> Any:
     elif data_type == AssetType.JSONABLE:
         return json.loads(data.decode("utf-8"))
     elif data_type == AssetType.TEXT:
-        return data.decode("utf-8")
+        try:
+            return data.decode("utf-8")
+        except UnicodeDecodeError:
+            return cloudpickle.loads(data)
     elif data_type == AssetType.BYTES:
         return data
     else:
@@ -170,6 +173,9 @@ def load_asset(asset_meta: AssetSchema, data_type: AssetType) -> Any:
 
     path = uri[len(scheme_prefix) :] if uri.startswith(scheme_prefix) else uri
 
-    with open(path, "rb") as f:
-        data = f.read()
+    try:
+        with open(path, "rb") as f:
+            data = f.read()
+    except FileNotFoundError:
+        data = "".encode("utf-8")
     return deserialize_asset(data, data_type)