Morton’s Restaurant Group (NYSE: MRT), the world’s largest owner and operator of upscale restaurants, announced that it will open its first Morton’s steakhouse in Mexico City in 2009 in connection with a group of Mexican investors, according to an October 13, 2008 report in El Financiero.

The steakhouse, which will have a capacity of 255 persons, will be located in the affluent Lomas de Chapultapec neighborhood on an undisclosed street near hotels, high-end shops, and embassies. 

Morton’s operates steakhouses in 68 cities in the U.S. and Puerto Rico, as well as five international restaurants in Hong Kong, Macao, Singapore, Toronto, and Van

Mexico’s third largest retail store operator, Controladora Comercial Mexicana (CCM), filed a petition for bankruptcy protection (Concurso Mercantil) with the Federal District (Mexico City) Court on October 9, 2008, in an effort to restructure its obligations with creditors, according to a report in El Financiero. 

A Concurso Mercantil is based on the Ley de Concursos Mercantiles (the “LCM”) enacted in May 2000, which provides for two different and separate proceedings: conciliation and liquidation (quiebra).  The initial conciliation phase lasts up to 185 days and is subject to extension for two 90-day periods, subject to certain conditions. The objective of the conciliation phase is to reach a restructuring agreement (Convenio Concursal) between the debtor and its creditors. Such an agreement (Convenio Concursal), among a debtor and its creditors, if approved by the Court, has the effect of ending the Concurso Mercantil; the LCM provides for specific creditor voting rules and, subject to certain conditions, dissenting unsecured creditors are bound by a Court approved agreement. If the debtor does not reach an agreement with its creditors within the statutory time period, the debtor is put into liquidation (quiebra) during which phase the debtor’s assets are liquidated.

The Concurso Mercantil petition filed by CCM does not encompass CCM’s subsidiaries, which include Comercial Mexicana, Restaurantes California, CostCo de Mexico, and certain real estate companies.  CCM also operates City Market, Provecomer, and La Comer en tu Casa retail operations in Mexico, among others.  It is not clear whether those latter operations are included in the bankruptcy proceeding.

Credit Suisse Mexico is assisting CCM with is restructuring plan.  CCM has announced that it is seeking financing to continue operations.

According to a report in today’s El Financiero, the CEO (Director General) of Starbucks Coffee de Mexico, Gerardo Rojas, said that Starbucks Coffee Company (NYSE: SBUX) will increase its ownership stake in Starbucks Coffee de Mexico in 2009.  

Starbucks Coffee de Mexico is a joint venture that was formed in 2002 between Starbucks Coffee International, Inc., a Washington corporation, and SC de Mexico, S.A. de C.V., an affiliate of Alsea, S.A.B. (MX: ALSEA), one of Latin America’s leading franchise operators and foodservice distribution companies.

Mr. Rojas said that the joint venture agreement gives Starbucks Coffee International the right to increase its participation in Starbucks Coffee de Mexico, which has performed well in the Mexican market.

In 1998, 120 coffee producers in the El Triunfo Biosphere Reserve in Chiapas became major Starbucks coffee suppliers.  Starbucks serves and sells their coffee throughout the world under the Shade Grown brand name.

Sigma Alimentos, Mexico’s largest producer and distributor of regrigerated and frozen food, signed an agreement to acquire Peruvian cold meats manufacturer and distributor Braedt, S.A., according to a report in today’s El Economista.  Sigma is a wholly-owned subsidiary of Mexican conglomerate Grupo Industrial Alfa, S.A., whose three other prinipal business groups are Alpek (petrochemicals), Nemak (aluminum auto components), and Alestra (telecommunications).

Mexican supermarket operator Grupo Gigante, S.A. de C.V. has offered to buy out its Mexican joint venture partner Office Depot for US$430 million, as reported in today’s El Financiero.  The acquisition would give Gigante 100% control of the Mexican joint venture entity, which runs Office Depot stores in Mexico.  Gigante’s offer is subject to approval of its board of directors and to obtaining Latin American expansion rights from Office Depot.

El Universal reported today that three U.S. franchisors will expand their franchise networks to Mexico.  The franchisors are Seattle-based smoothie maker Emerald City Smoothies (who doesn’t love a good smoothie?), Palm Springs-based water, sewer, and pipe leak repair service company American Leak Detection (we all have leaks), and U.S./India based computer and software training services provider Aptech (which appears to be U.S./India-based).