diff --git a/newsfragments/116.bugfix b/newsfragments/116.bugfix
new file mode 100644
index 00000000..dad04a59
--- /dev/null
+++ b/newsfragments/116.bugfix
@@ -0,0 +1 @@
+Fix ``FileNotFoundError`` regression in ``setuptools-odoo-make-default``.
diff --git a/setuptools_odoo/make_default_setup.py b/setuptools_odoo/make_default_setup.py
index 6955114c..e48b3686 100644
--- a/setuptools_odoo/make_default_setup.py
+++ b/setuptools_odoo/make_default_setup.py
@@ -322,7 +322,7 @@ def clean_setup_addons_dir(addons_dir, odoo_version_override):
     for p in paths_to_remove:
         if os.path.isdir(p):
             shutil.rmtree(p)
-        else:
+        elif os.path.exists(p):
             os.unlink(p)