As much i know about electrum wallets, watch only account are not created but you can open the existing account as watch account to just check the wallet details. So it means that the wallet before itself existed and who ever have created should have the seed key, If you did not hold the seed key then i think the coins are lost.

If you got the seed key then you can open a new wallet with standard wallet feature and then it will ask the seed key and it will open as regular wallet.