I have a drive on my PC which was showing currupt files or something similar
It said the drive needed to be formated .Quick format fails to complete as well as format through Disk Management. The details for the disk show it's there & healthy.
Assuming there's nothing on it that you wish to retrieve, have you tried using a partition manager program to delete existing partitions and add new ones?
Agreed - provided it really is dying. Maybe it's just got itself confused. If it misbehaves after re-partitioning and re-formatting then yes throw it away.