Apple Watch stuck in factory reset

Good afternoon,

I have an Apple Watch series 1 that I only use for running. However recently it has been playing up in a number of different ways;

• When on to charge it will reset itself and beep every 30 seconds,
• The face resets itself of its own accord,
• It can sit on the charger for two hours and only shows a red lightning bolt with large time,
• It appears to be completely dead and wont charge for two days and then all of a sudden it'll charge,
• While on the charger it gets excessively hot,

Today I had 55% battery and put the watch on to charge and it instantly drained my battery. I have tried resetting the watch to no avail and decided to do a factory reset but now it's stuck in a loop. I get the apple logo and the dashes around the circumference, it gets about 75% round and then goes blank and starts again from scratch!

If the watch dead or can it be saved?