It can be rebuilt when the two parties involved are willing to.  The one who broke the trust needs to say sorry and to be sincere afterwards and has to work very hard to rebuild and earn trust.  The one who has to suffer the wrong doing from the other needs to be willing to forgive and to give the other a second chance for her/him to improve.

It's not easy, but if people realized that nobody is perfect and are willing to give others a second chance as they wished they could have that when they made a mistake or did wrong to someone else, then it would word.