Bins in the Brisbane Street Mall were badly damaged on Saturday morning after they were set on fire.
Tasmania Fire Service crews were called to extinguish blazes at two different bin sites in the mall about 3.37am.
A police investigation is under way into the fires, which have left a nearby small business fuming.
Coffee Republic owner Robin Smith said he expected it to cost the City of Launceston council thousands of dollars to repair the five damaged bins.
"The plastic has melted into the pavers," Mr Smith said.
"It's also damaged the council metre and control box, which was behind two of the bins."
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Mr Smith said based on security camera footage he observed, he believed the fires were the result of alcohol-fuelled anti-social behaviour.
"It was a very busy morning on the camera, a lot of people went pasty and unfortunately alcohol seems to have been abused on that night," he said.
"We've just come out of COVID-19, we're just having the council addressing some outstanding issues with the finishing off of the mall and this just puts us back.
"It just takes council's time away from the important work, it's particularly messy work they've got to do."
Anyone with information should contact police on 131444 or Crime Stoppers anonymously on 1800 333 000.